Salesforce, Inc. (NYSE:CRM) Receives $310.61 Consensus Price Target from Analysts

Shares of Salesforce, Inc. (NYSE:CRM) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-three analysts that are currently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, twenty-three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $310.61.

Several brokerages have weighed in on CRM. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Robert W. Baird raised their price objective on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Citigroup upped their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Thursday, March 7th. Finally, Evercore ISI upped their price objective on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $285.20, for a total value of $1,197,840.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at approximately $33,015,322.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the sale, the insider now owns 115,762 shares of the company’s stock, valued at $33,015,322.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 630,182 shares of company stock valued at $183,257,351. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Graypoint LLC grew its position in Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after buying an additional 36 shares during the period. Opes Wealth Management LLC lifted its position in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the last quarter. Finally, Prentice Wealth Management LLC boosted its stake in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.0 %

CRM opened at $283.79 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $274.71 billion, a price-to-earnings ratio of 67.57, a PEG ratio of 2.21 and a beta of 1.30. Salesforce has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a fifty day moving average price of $287.88 and a 200-day moving average price of $273.68.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.