Salesforce (NYSE:CRM – Get Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.
CRM has been the topic of a number of other reports. Oppenheimer increased their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Citigroup raised their price objective on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Robert W. Baird raised their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Argus raised their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Bank of America raised their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.32.
Salesforce Stock Up 0.4 %
Salesforce stock traded up $1.13 during mid-day trading on Tuesday, reaching $301.64. 3,329,264 shares of the company’s stock were exchanged, compared to its average volume of 5,927,168. The company has a market cap of $292.59 billion, a P/E ratio of 71.82, a P/E/G ratio of 2.26 and a beta of 1.28. Salesforce has a twelve month low of $182.65 and a twelve month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $289.88 and a 200-day moving average of $248.76.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. Sell-side analysts expect that Salesforce will post 7.45 EPS for the current year.
Insider Activity at Salesforce
In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $265.70, for a total transaction of $2,657,000.00. Following the sale, the insider now owns 59,861 shares in the company, valued at approximately $15,905,067.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $265.70, for a total transaction of $2,657,000.00. Following the sale, the insider now owns 59,861 shares in the company, valued at approximately $15,905,067.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders sold 1,134,112 shares of company stock valued at $314,768,392 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $26,000. Aspect Partners LLC purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $29,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $31,000. Finally, Main Street Group LTD purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 77.52% of the company’s stock.
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.