Salesforce, Inc. (NYSE:CRM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Salesforce, Inc. (NYSE:CRM) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-eight brokerages that are presently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $311.66.

Several research analysts have commented on the stock. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Robert W. Baird lifted their target price on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Truist Financial reissued a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,251,239.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,251,239.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 969 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,110 shares of company stock worth $20,292,760. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital Research Global Investors increased its position in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Salesforce during the 1st quarter valued at about $910,220,000. Swedbank AB bought a new position in shares of Salesforce in the 1st quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its position in Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after purchasing an additional 1,139,472 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 0.5 %

NYSE:CRM opened at $291.33 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $267.44 and a 200-day moving average of $263.18. The firm has a market capitalization of $282.30 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. Analysts predict that Salesforce will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

About Salesforce

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.