Salesforce (NYSE:CRM – Get Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
A number of other brokerages have also commented on CRM. Roth Capital reissued a “buy” rating on shares of Salesforce in a report on Thursday, June 1st. Societe Generale lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Oppenheimer lifted their target price on shares of Salesforce from $225.00 to $235.00 in a report on Thursday, June 1st. Wells Fargo & Company raised their target price on shares of Salesforce from $225.00 to $250.00 in a report on Tuesday, May 30th. Finally, Robert W. Baird lifted their target price on Salesforce from $200.00 to $210.00 in a research report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.50.
Salesforce Stock Down 2.7 %
Shares of NYSE CRM opened at $228.11 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a market cap of $222.18 billion, a PE ratio of 600.29, a P/E/G ratio of 2.25 and a beta of 1.19. The company’s fifty day simple moving average is $213.90 and its 200 day simple moving average is $189.53. Salesforce has a 12-month low of $126.34 and a 12-month high of $238.22.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 31st. The CRM provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Salesforce had a return on equity of 5.75% and a net margin of 1.18%. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, sell-side analysts forecast that Salesforce will post 5.26 earnings per share for the current fiscal year.
Insider Activity
In related news, CAO Sundeep G. Reddy sold 164 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $196.33, for a total transaction of $32,198.12. Following the sale, the chief accounting officer now directly owns 1,884 shares of the company’s stock, valued at $369,885.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 500,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $209.14, for a total transaction of $104,570,000.00. Following the sale, the chief executive officer now directly owns 16,671,609 shares in the company, valued at $3,486,700,306.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 164 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $196.33, for a total transaction of $32,198.12. Following the completion of the transaction, the chief accounting officer now owns 1,884 shares of the company’s stock, valued at approximately $369,885.72. The disclosure for this sale can be found here. Insiders have sold 973,248 shares of company stock valued at $206,391,157 over the last ninety days. 3.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Salesforce
Several large investors have recently bought and sold shares of the stock. Graham Capital Wealth Management LLC acquired a new stake in Salesforce in the first quarter valued at approximately $233,743,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Salesforce by 374.1% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. NewSquare Capital LLC grew its position in shares of Salesforce by 132.8% in the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after buying an additional 85 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Salesforce by 354.8% in the second quarter. SJS Investment Consulting Inc. now owns 191 shares of the CRM provider’s stock valued at $40,000 after acquiring an additional 149 shares during the period. Finally, Ahrens Investment Partners LLC acquired a new stake in shares of Salesforce during the first quarter worth $40,000. Hedge funds and other institutional investors own 81.13% 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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.