Salesforce (NYSE:CRM) Trading 0.1% Higher – What’s Next?

Salesforce, Inc. (NYSE:CRM) shares traded up 0.1% during trading on Friday . The company traded as high as $338.65 and last traded at $335.06. 866,515 shares were traded during mid-day trading, a decline of 83% from the average session volume of 5,091,530 shares. The stock had previously closed at $334.66.

Analysts Set New Price Targets

A number of analysts have commented on the company. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research report on Monday, January 6th. BMO Capital Markets upped their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus upped their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC increased their target price on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Up 0.1 %

The firm has a market cap of $320.59 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 3.01 and a beta of 1.30. The company has a fifty day moving average price of $336.56 and a 200-day moving average price of $293.49. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insiders Place Their Bets

In related news, COO Brian Millham sold 708 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,173,891 shares of company stock worth $402,840,388 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in Salesforce in the third quarter valued at about $53,000. Hedge funds and other institutional investors own 80.43% 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.