Salesforce (NYSE:CRM) Coverage Initiated by Analysts at DA Davidson

DA Davidson started coverage on shares of Salesforce (NYSE:CRMGet Rating) in a research report released on Tuesday morning, The Fly reports. The brokerage issued a neutral rating on the CRM provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Cowen cut their price target on shares of Salesforce from $195.00 to $175.00 in a research note on Thursday, January 5th. Wedbush lowered their price target on shares of Salesforce from $215.00 to $200.00 and set an outperform rating for the company in a report on Thursday, December 1st. Wells Fargo & Company lowered their price target on shares of Salesforce from $190.00 to $175.00 and set an overweight rating for the company in a report on Thursday, December 1st. Sanford C. Bernstein lowered shares of Salesforce from a market perform rating to an underperform rating and lowered their price target for the company from $134.00 to $119.00 in a report on Wednesday, January 11th. Finally, Macquarie reaffirmed an outperform rating and set a $210.00 price target on shares of Salesforce in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $191.23.

Salesforce Stock Performance

NYSE:CRM opened at $148.47 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a market cap of $148.47 billion, a P/E ratio of 530.25, a P/E/G ratio of 3.75 and a beta of 1.15. Salesforce has a fifty-two week low of $126.34 and a fifty-two week high of $234.49. The firm’s 50 day moving average is $141.61 and its two-hundred day moving average is $156.34.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings results on Wednesday, November 30th. The CRM provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.19. The company had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.83 billion. Salesforce had a net margin of 0.92% and a return on equity of 3.21%. Salesforce’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Analysts expect that Salesforce will post 2.38 EPS for the current year.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 653 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $160.25, for a total value of $104,643.25. Following the transaction, the chief accounting officer now directly owns 1,037 shares in the company, valued at $166,179.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Sundeep G. Reddy sold 653 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $160.25, for a total transaction of $104,643.25. Following the transaction, the chief accounting officer now owns 1,037 shares of the company’s stock, valued at $166,179.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $158.21, for a total value of $363,883.00. Following the transaction, the chief executive officer now directly owns 27,761,368 shares in the company, valued at approximately $4,392,126,031.28. The disclosure for this sale can be found here. Insiders have sold 167,761 shares of company stock worth $25,501,334 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geller Advisors LLC boosted its position in Salesforce by 2.0% during the second quarter. Geller Advisors LLC now owns 2,752 shares of the CRM provider’s stock worth $454,000 after purchasing an additional 54 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in Salesforce by 4.4% during the second quarter. Wellington Shields & Co. LLC now owns 1,301 shares of the CRM provider’s stock worth $215,000 after purchasing an additional 55 shares in the last quarter. Silvant Capital Management LLC boosted its position in Salesforce by 0.4% during the second quarter. Silvant Capital Management LLC now owns 13,828 shares of the CRM provider’s stock worth $2,282,000 after purchasing an additional 58 shares in the last quarter. Columbia Trust Co 01012016 lifted its position in shares of Salesforce by 0.9% in the second quarter. Columbia Trust Co 01012016 now owns 6,433 shares of the CRM provider’s stock valued at $1,062,000 after acquiring an additional 60 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its position in shares of Salesforce by 4.0% in the second quarter. Quad Cities Investment Group LLC now owns 1,562 shares of the CRM provider’s stock valued at $258,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 75.83% of the company’s stock.

Salesforce Company Profile

(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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