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

Salesforce, Inc. (NYSE:CRM – Get Rating) has been assigned an average recommendation of “Buy” from the forty-three research firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, twenty-seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $299.50.

Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Salesforce from a “strong-buy” rating to a “hold” rating and set a $244.00 target price on the stock. in a research note on Tuesday, February 1st. Loop Capital lowered their price objective on shares of Salesforce from $275.00 to $225.00 in a research note on Monday, February 7th. The Goldman Sachs Group set a $360.00 price objective on shares of Salesforce and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Finally, JPMorgan Chase & Co. set a $316.00 price objective on shares of Salesforce in a research note on Wednesday, March 2nd.

In related news, insider Srinivas Tallapragada sold 895 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $171.68, for a total transaction of $153,653.60. Following the transaction, the insider now directly owns 47,309 shares in the company, valued at approximately $8,122,009.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $229.02, for a total transaction of $526,746.00. The disclosure for this sale can be found here. Insiders have sold a total of 165,268 shares of company stock worth $33,915,688 over the last quarter. 4.10% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Nicolet Bankshares Inc. lifted its position in shares of Salesforce by 0.5% in the 3rd quarter. Nicolet Bankshares Inc. now owns 8,011 shares of the CRM provider’s stock worth $2,173,000 after purchasing an additional 36 shares during the period. Private Portfolio Partners LLC lifted its position in shares of Salesforce by 2.4% in the 3rd quarter. Private Portfolio Partners LLC now owns 1,557 shares of the CRM provider’s stock worth $422,000 after purchasing an additional 37 shares during the period. Twin Focus Capital Partners LLC lifted its position in Salesforce by 2.2% during the third quarter. Twin Focus Capital Partners LLC now owns 1,746 shares of the CRM provider’s stock valued at $474,000 after acquiring an additional 38 shares during the last quarter. Encompass Wealth Advisors LLC boosted its stake in Salesforce by 1.0% in the third quarter. Encompass Wealth Advisors LLC now owns 3,766 shares of the CRM provider’s stock valued at $1,021,000 after acquiring an additional 38 shares in the last quarter. Finally, Wagner Wealth Management LLC grew its holdings in Salesforce by 17.3% in the third quarter. Wagner Wealth Management LLC now owns 271 shares of the CRM provider’s stock worth $81,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 77.16% of the company’s stock.

Shares of Salesforce stock opened at $185.74 on Friday. The stock has a market cap of $183.88 billion, a price-to-earnings ratio of 123.83, a PEG ratio of 5.05 and a beta of 1.10. The firm’s 50-day moving average is $200.38 and its 200 day moving average is $239.06. Salesforce has a 1 year low of $167.55 and a 1 year high of $311.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05.

Salesforce (NYSE:CRM – Get Rating) last posted its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.12. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. On average, equities analysts expect that Salesforce will post 2.1 EPS for the current fiscal year.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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.

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