Salesforce (NYSE:CRM) PT Raised to $230.00 at Evercore ISI

Salesforce (NYSE:CRM – Get Rating) had its target price upped by equities researchers at Evercore ISI from $200.00 to $230.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the CRM provider’s stock. Evercore ISI’s price objective suggests a potential upside of 23.37% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Macquarie increased their target price on Salesforce from $218.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler increased their price target on Salesforce from $171.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Credit Suisse Group cut their price target on Salesforce from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, December 5th. Barclays increased their price target on Salesforce from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Needham & Company LLC raised Salesforce from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a report on Thursday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.24.

Salesforce Stock Down 0.1 %

Shares of CRM opened at $186.43 on Thursday. Salesforce has a 52 week low of $126.34 and a 52 week high of $222.15. 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 capitalization of $186.43 billion, a price-to-earnings ratio of 887.76, a PEG ratio of 3.18 and a beta of 1.21. The stock’s 50-day moving average price is $156.87 and its 200-day moving average price is $153.62.

Salesforce (NYSE:CRM – Get Rating) last issued its earnings results on Wednesday, March 1st. The CRM provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.32. The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $7.99 billion. Salesforce had a return on equity of 4.46% and a net margin of 0.66%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, sell-side analysts predict that Salesforce will post 3.14 EPS for the current year.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 186 shares of Salesforce stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $155.59, for a total value of $28,939.74. Following the sale, the chief accounting officer now owns 1,273 shares of the company’s stock, valued at approximately $198,066.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Brent Hyder sold 292 shares of Salesforce stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $128.55, for a total value of $37,536.60. Following the sale, the insider now owns 6,305 shares of the company’s stock, valued at approximately $810,507.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 186 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $155.59, for a total value of $28,939.74. Following the sale, the chief accounting officer now directly owns 1,273 shares in the company, valued at approximately $198,066.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,868 shares of company stock valued at $4,560,558. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently modified their holdings of CRM. Financial Management Professionals Inc. lifted its stake in Salesforce by 365.2% in the 4th quarter. Financial Management Professionals Inc. now owns 214 shares of the CRM provider’s stock valued at $28,000 after buying an additional 168 shares in the last quarter. Capital Directions Investment Advisors LLC purchased a new stake in Salesforce in the 4th quarter valued at approximately $28,000. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Salesforce by 506.1% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in Salesforce by 113.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock valued at $30,000 after buying an additional 110 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 75.83% of the company’s stock.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.