Analysts Set Salesforce, Inc. (NYSE:CRM) PT at $313.37

Salesforce, Inc. (NYSE:CRM) has received an average recommendation of “Moderate Buy” from the thirty-eight analysts that are presently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and four have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $322.51.

Several research firms have commented on CRM. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Raymond James lifted their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $325.28 on Friday. Salesforce has a twelve month low of $212.00 and a twelve month high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $284.99 and a two-hundred day simple moving average of $266.30. The stock has a market capitalization of $310.96 billion, a price-to-earnings ratio of 56.57, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

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.