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Salesforce (CRM) Stock Price, News & Analysis

$272.78
-0.12 (-0.04%)
(As of 09:46 AM ET)
Today's Range
$272.66
$275.53
50-Day Range
$272.75
$316.99
52-Week Range
$190.57
$318.71
Volume
613,511 shs
Average Volume
5.63 million shs
Market Capitalization
$264.60 billion
P/E Ratio
64.95
Dividend Yield
0.15%
Price Target
$306.26

Salesforce MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.76 Rating Score
Upside/​Downside
12.3% Upside
$306.26 Price Target
Short Interest
Healthy
0.99% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-0.60
Upright™ Environmental Score
News Sentiment
0.40mentions of Salesforce in the last 14 days
Based on 73 Articles This Week
Insider Trading
Selling Shares
$266.96 M Sold Last Quarter
Proj. Earnings Growth
15.03%
From $7.45 to $8.57 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.92 out of 5 stars

Computer And Technology Sector

46th out of 591 stocks

Prepackaged Software Industry

12th out of 201 stocks

CRM stock logo

About Salesforce Stock (NYSE:CRM)

Salesforce, Inc. is a cloud-based SaaS company founded by former Oracle exec Marc Benioff in 1999. Mr. Benioff founded the company with 3 partners who will remain active in management until nearly 2020. Larry Elison, a co-founder of Oracle, is a noteworthy early investor who helped propel the company to its success. The company is a leader in CRM or customer relationship management and is largely responsible for the proliferation of digitized CRM solutions that is ongoing today.

The company was not immune to the DotCom bubble bursting and had to cut back its workforce and plans but the event is nothing but a blip on the radar now. Even then, the company could sustain a hyper-growth rate that saw revenue skyrocket from $0 in 1999 to over $100 million by the end of 2003. The company held its IPO in 2004 and raised $110 million. The hypergrowth continued until 2014 driven by the growing recognition among C-suite executives that digital CRM was the path to accelerated revenue and earnings growth.

The company made multiple small acquisitions in the period leading up to 2014, but it was then that investment in other technology accelerated. Total spending in 2016 topped $5 billion and led to the acquisition of Slack in 2020. The company was added to the Dow Jones Industrial Average, instantly becoming the largest technology company in the index. The Slack acquisition came under some criticism due to the elevated cost the company paid. The track record of growth that includes sustained sequential growth through the end of 2022 put an end to the criticism.

Today, Salesforce.com provides customer relationship management technology that brings companies and customers together worldwide. It is the 1st cloud stock to reach $1 billion in revenue, hitting that target in 2009. It is the world’s largest enterprise-level software provider and the 61st-largest company by market cap. In regards to US businesses, it is ranked 136th on the Forbes Fortune 500 list for 2022 when revenue topped $7.7 billion.

The company offers its services via the Customer 360 platform. The platform is designed to deliver connected experiences for a business's customers in a way that delivers sales. Revenue is generated in 2 channels that include Sales and Service. The Sales offering stores data, monitors leads and tracks traffic progression through the sales funnel. It can forecast and provide other analytics as well as deliver quotes, contracts and invoices.

The Service segment allows companies to provide personalized services and support at scale. Scale is the fundamental quality that drives Salesfoce.com’s success because it has been able to scale and aid its clients when they scale. Among Service’s many offerings is the ability to create apps with a drag-and-drop builder tool. This segment also includes Slack which permits easy communication among business associates.

Salesforce.com Ventures is a wholly-owned subsidiary of Salesforce.com. It is in business to invest in start-up and early growth phase businesses and has invested more than $5 billion since 2009.

CRM Stock Price History

CRM Stock News Headlines

M&T Bank, Goldman Sachs rise; Salesforce, Tesla fall, Monday, 4/15/2024
Stocks that are trading heavily or have substantial price changes on Monday: M&T Bank, Goldman Sachs rise; Salesforce, Tesla fall
Trump’s “Tax Free” Retirement Strategy
Since 1924 — over one hundred years — the US dollar has lost nearly 18x its value. In other words, a dollar back then would buy $17.82 worth of goods in today's money. If you're planning on retiring any time soon…This poses a real problem.
Corporate IT Spending Rebounds Could Push Salesforce Stock Higher
The U.S. stock markets broke past all-time highs in hopes of the Fed cutting interest rates. However, not all stocks were equal in this rally, as technology stocks were the main drivers at the time.
Corporate IT Spending Rebounds Could Push Salesforce Stock Higher
Salesforce may be set to benefit from increasing corporate IT spending budgets, Wall Street thinks that EPS and price targets could rise by double-digits.
Trump’s “Tax Free” Retirement Strategy
Since 1924 — over one hundred years — the US dollar has lost nearly 18x its value. In other words, a dollar back then would buy $17.82 worth of goods in today's money. If you're planning on retiring any time soon…This poses a real problem.
Salesforce (NYSE:CRM) Given "Neutral" Rating at Piper Sandler
Why Salesforce Stock Fell Today
Why Salesforce (CRM) Stock Is Nosediving
See More Headlines
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Company Calendar

Last Earnings
2/28/2024
Ex-Dividend for 4/11 Dividend
3/13/2024
Dividend Payable
4/11/2024
Today
4/16/2024
Next Earnings (Estimated)
5/29/2024
Fiscal Year End
1/31/2025

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Application Software
CUSIP
79466L30
Employees
72,682
Year Founded
1999

Price Target and Rating

Average Stock Price Target
$306.26
High Stock Price Target
$360.00
Low Stock Price Target
$153.00
Potential Upside/Downside
+12.3%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.76
Research Coverage
33 Analysts

Profitability

Net Income
$4.14 billion
Pretax Margin
14.20%

Debt

Sales & Book Value

Annual Sales
$34.86 billion
Cash Flow
$11.35 per share
Book Value
$61.62 per share

Miscellaneous

Free Float
934,110,000
Market Cap
$264.57 billion
Optionable
Optionable
Beta
1.28

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Should I Buy Salesforce Stock? CRM Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Salesforce, Inc.:

  • Salesforce, Inc. provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide, offering services like sales data management, lead monitoring, opportunity forecasting, analytics insights, and personalized customer support at scale.
  • Institutional investors own a significant portion (80.43%) of Salesforce's stock, indicating confidence in the company's performance and potential growth.
  • Recent institutional investments in Salesforce, such as Soltis Investment Advisors LLC growing its stake by 824.6% in the 4th quarter, demonstrate positive sentiment towards the company's future prospects.
  • Continuous innovation in artificial intelligence and analytics by Salesforce enhances its CRM technology, providing competitive advantages in the market and attracting more clients.
  • Strong financial performance and market presence of Salesforce, Inc., reflected in its stock price and market capitalization, make it a reliable investment option for long-term growth.

Cons

Investors should be bearish about investing in Salesforce, Inc. for these reasons:

  • Despite the positive aspects, Salesforce faces competition from other CRM providers and technology companies, which could impact its market share and growth potential.
  • Volatility in the stock market and economic uncertainties may affect Salesforce's stock price, leading to short-term fluctuations and potential risks for investors.
  • High dependence on institutional investors for stock ownership may result in market reactions based on their buying or selling activities, influencing stock performance unpredictably.
  • Changes in regulatory environments or data privacy laws could impact Salesforce's operations and profitability, requiring adaptations that may affect investor confidence.
  • Investors should carefully monitor Salesforce's financial reports, market trends, and competitive landscape to make informed decisions due to the dynamic nature of the technology sector.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Saturday, April 13, 2024. Please send any questions or comments about these Salesforce pros and cons to contact@marketbeat.com.

CRM Stock Analysis - Frequently Asked Questions

Should I buy or sell Salesforce stock right now?

33 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Salesforce in the last twelve months. There are currently 9 hold ratings, 23 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CRM shares.
View CRM analyst ratings
or view top-rated stocks.

What is Salesforce's stock price target for 2024?

33 Wall Street analysts have issued twelve-month target prices for Salesforce's shares. Their CRM share price targets range from $153.00 to $360.00. On average, they expect the company's share price to reach $306.26 in the next year. This suggests a possible upside of 12.3% from the stock's current price.
View analysts price targets for CRM
or view top-rated stocks among Wall Street analysts.

How have CRM shares performed in 2024?

Salesforce's stock was trading at $263.14 on January 1st, 2024. Since then, CRM shares have increased by 3.7% and is now trading at $272.75.
View the best growth stocks for 2024 here
.

Are investors shorting Salesforce?

Salesforce saw a drop in short interest in the month of March. As of March 31st, there was short interest totaling 9,650,000 shares, a drop of 9.3% from the March 15th total of 10,640,000 shares. Based on an average daily trading volume, of 5,650,000 shares, the days-to-cover ratio is presently 1.7 days.
View Salesforce's Short Interest
.

When is Salesforce's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 29th 2024.
View our CRM earnings forecast
.

How were Salesforce's earnings last quarter?

Salesforce, Inc. (NYSE:CRM) issued its earnings results on Wednesday, February, 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The CRM provider had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a trailing twelve-month return on equity of 10.42%. The business's revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS.
Read the conference call transcript
.

How often does Salesforce pay dividends? What is the dividend yield for Salesforce?

Salesforce declared a quarterly dividend on Wednesday, February 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.40 per share on Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Wednesday, March 13th.
Read our dividend analysis for CRM
.

Is Salesforce a good dividend stock?

Salesforce (NYSE:CRM) pays an annual dividend of $0.40 per share and currently has a dividend yield of 0.14%. The dividend payout ratio is 9.52%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CRM will have a dividend payout ratio of 4.67% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CRM.

How will Salesforce's stock buyback program work?

Salesforce announced that its board has initiated a share buyback program on Wednesday, March 1st 2023, which authorizes the company to buyback $20,000,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 10.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

What guidance has Salesforce issued on next quarter's earnings?

Salesforce issued an update on its first quarter 2025 earnings guidance on Wednesday, February, 28th. The company provided EPS guidance of 2.370-2.390 for the period, compared to the consensus earnings per share estimate of 2.200. The company issued revenue guidance of $9.1 billion-$9.2 billion, compared to the consensus revenue estimate of $9.2 billion.

What is Marc Benioff's approval rating as Salesforce's CEO?

1,953 employees have rated Salesforce Chief Executive Officer Marc Benioff on Glassdoor.com. Marc Benioff has an approval rating of 97% among the company's employees. This puts Marc Benioff in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Salesforce own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Salesforce investors own include NVIDIA (NVDA), Alibaba Group (BABA), Netflix (NFLX), Walt Disney (DIS), PayPal (PYPL), Tesla (TSLA), Visa (V), Advanced Micro Devices (AMD), Adobe (ADBE) and Micron Technology (MU).

Who are Salesforce's major shareholders?

Salesforce's stock is owned by a variety of retail and institutional investors. Top institutional investors include Los Angeles Capital Management LLC (0.13%), Congress Asset Management Co. MA (0.03%), Gateway Investment Advisers LLC (0.02%), Daymark Wealth Partners LLC (0.02%), Czech National Bank (0.02%) and Wealth Enhancement Advisory Services LLC (0.01%). Insiders that own company stock include Amy E Weaver, Amy E Weaver, Brent Hyder, Bret Steven Taylor, Brian Millham, Gavin Patterson, Joe Allanson, Marc Benioff, Neelie Kroes, Parker Harris, Shawn R Phillips, Srinivas Tallapragada and Sundeep G Reddy.
View institutional ownership trends
.

How do I buy shares of Salesforce?

Shares of CRM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Salesforce have any subsidiaries?
The following companies are subsidiares of Salesforce: 450 Mission LLC, AKTA, AKTA US LLC, Activa Live, Acumen Solutions, Acumen Solutions Consulting Canada Inc., Acumen Solutions Inc., Acumen Solutions UK Ltd., Atonit, Attic Labs, BeyondCore, BeyondCore LLC, Bonobo AI, Bonobot Technologies (US) Inc., Bonobot Technologies Ltd., Buddy Media, Buddy Media LLC, C Level Club LLC dba The CMO Club, ChoicePass, ClickSoftware, ClickSoftware Australia Pty Ltd, ClickSoftware Brazil Solucoes em Gestao de Forcas de Trabalho Ltda., ClickSoftware Central Europe GmbH, ClickSoftware Europe Limited, ClickSoftware Inc., ClickSoftware India Private Limited, ClickSoftware Professional Services Ltd., ClickSoftware Singapore Pte. Ltd., ClickSoftware Technologies (Pty) Ltd, ClickSoftware Technologies Ltd., Clipboard, Clipboard LLC, Cloud Connect, CloudCraze, CloudCraze Software LLC, Compass Acquisition II Corp., Computable Insights LLC, Coolan, Credential Master Inc., Datorama, Datorama Australia Pty Ltd, Datorama GmbH, Datorama Japan Inc., Datorama Singapore Pte. Ltd., Datorama Technologies Ltd., Datorama UK Ltd., Demandware, Demandware Hong Kong Limited, Demandware LLC, Demandware Securities LLC, Desk.com, Diffeo Inc., DimDim Inc., Dimdim, EdgeSpring, EntropySoft, Etacts, Evergage, Evergage LLC, ExactTarget, ExactTarget AB, ExactTarget Brazil Holding Company LLC, ExactTarget GmbH in liquidation, ExactTarget LLC, ExactTarget Pte. Ltd. (in liquidation), ExactTarget Pty. Ltd., ExactTarget S.A.S., Geocloudio Technologies Private Limited, GoInstant, Griddable, Griddable Inc., GroupSwim, Heroku, Heroku Inc., HeyWire, Heywire Inc., Implisit, Implisit Inc., Implisit Insights Ltd., InStranet, Informavores, Jigsaw, Kabushiki Kaisha salesforce.com, Kerensen Consulting, Kerensen Consulting Israel Ltd., Kieden, Koral Technologies, Krux, Krux Digital LLC, LevelJump, LevelJump Software Corp., Lintao SA, Little Ohana LLC, Manymoon, MapAnything, MapAnything LLC, MetaMind, Metamind Inc., MinHash, Mobify, Mobify (USA) Inc., Mobify Research and Development Inc., Model Metrics, MuleSoft, MuleSoft Germany GmbH in liquidation, MuleSoft Hong Kong Limited, MuleSoft International LLC, MuleSoft LLC, My Salesforce LLC, Narrative Science LLC, Navajo Systems, Optimizer HoldCo S.a.r.l., Optimizer TopCo S.a.r.l., Phennecs, PredictionIO, Prior Knowledge, Quip, Quip LLC, REBEL, Radian6, RebelMail Inc., Relate iq, RelateIQ LLC, Rimeto Inc., Rypple, SFDC 50 Fremont LLC, SFDC Australia Pty. Ltd., SFDC Australia Pty. Ltd. New Zealand Branch, SFDC Austria GmbH, SFDC Columbia S.A.S, SFDC EMEA Data Centre Limited, SFDC France Data Centre Sárl, SFDC Germany Data Centre GmbH, SFDC Holding Co., SFDC International Holdings B.V., SFDC Ireland Limited, SFDC Mexico S. de R.L. de C.V., SFDC Netherlands B.V., SFDC Netherlands B.V. Belgium Branch, SFDC Norway AS, SFDC Portugal Unipessoal LDA, SFDC South Africa (Pty) Limited, SFDC Sweden AB, SFDC Sweden AB Suomen sivuliike, SFDC Worldwide Holdings Inc., Salesforce Argentina S.R.L., Salesforce Communications LLC, Salesforce Development LLC, Salesforce Foundation, Salesforce GFO Sarl, Salesforce Holdings LLC, Salesforce Maps, Salesforce Radian6, Salesforce Technologies Morocco, Salesforce Tecnologia Ltda., Salesforce UK Limited, Salesforce Ventures LLC, Salesforce Worldwide Holdings Limited, Salesforce.com (Thailand) Co. Ltd., Salesforce.com Danmark filial af SFDC Sweden AB, Salesforce.com India Private Limited Gurgaon Branch, Salesforce.com Korea Limited, Salesforce.org EMEA Limited, Salesforce.org Germany GmbH, Sendia, Sequence, Sitemasher, Slack, Slack Australia Pty LTD, Slack Fund LLC, Slack Netherlands B.V., Slack Sweden AB, Slack Technologies India LLP, Slack Technologies Korea LLC, Slack Technologies LLC, Slack Technologies Limited, Slack UK Limited, SteelBrick, Stypi, Tableau (China) Co. Ltd., Tableau (China) Co. Ltd. Beijing Branch, Tableau (China) Co. Ltd. Guangzhou Branch, Tableau Asia Pacific Pte. Ltd., Tableau Australia Pty. Ltd., Tableau Canada Co., Tableau Federal Inc., Tableau Hong Kong Company Limited, Tableau International LLC, Tableau International Unlimited Company, Tableau Software, Tableau Software India Pvt. Ltd., Tableau Software LLC, Tableau Software UK Ltd., Tempo AI, The CMO Club, Thinkfuse, Tomax India Software Private Limited, Tomax LLC, Toopher, Twin Prime, Twin Prime Inc., Vlocity, Vlocity AR SRL, Vlocity Aplicativos em Nuvem Brasil Ltda., Vlocity Cloud Applications India Private Limited, Vlocity Cloud Applications Mexico S. de R.L. de C.V., Vlocity Cloud Applications Spain SLU, Vlocity Cloud Computing Israel Ltd., Vlocity Germany GmbH, Vlocity LLC, Vlocity Singapore Pte. Ltd. (in liquidation), Vlocity UK Limited, Work.com, YOUR SL, Zorap, gravitytank, roundCorner LLC, salesforce Systems Spain S.L., salesforce.com Canada Corporation, salesforce.com France S.A.S., salesforce.com Germany GmbH, salesforce.com Hong Kong Limited, salesforce.com India Private Limited, salesforce.com India Private Limited Bengaluru Branch, salesforce.com India Private Limited Hyderabad Branch, salesforce.com India Private Limited Mumbai Branch, salesforce.com Information Technology (Shanghai) Co. Ltd., salesforce.com Information Technology (Shanghai) Co. Ltd. Beijing Branch, salesforce.com Israel Ltd., salesforce.com Italy S.r.l., salesforce.com LLC, salesforce.com Singapore Pte. Ltd., salesforce.com Taiwan Limited, salesforce.com sarl, and salesforce.org LLC.
Read More
This page (NYSE:CRM) was last updated on 4/16/2024 by MarketBeat.com Staff

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