Salesforce (NYSE:CRM) Price Target Raised to $260.00 at Barclays

Salesforce (NYSE:CRM) had its price target raised by Barclays from $245.00 to $260.00 in a research note published on Thursday, FlyOnTheWall reports.

Other research analysts have also recently issued reports about the stock. Wedbush lifted their price objective on shares of Salesforce from $230.00 to $240.00 in a research note on Thursday, June 1st. Evercore ISI boosted their target price on shares of Salesforce from $230.00 to $240.00 in a research note on Thursday, June 1st. Roth Capital reaffirmed a buy rating on shares of Salesforce in a research note on Thursday, June 1st. Mizuho decreased their target price on shares of Salesforce from $260.00 to $250.00 and set a buy rating on the stock in a research note on Wednesday, August 16th. Finally, Societe Generale cut shares of Salesforce from a buy rating to a hold rating in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce has an average rating of Moderate Buy and an average target price of $237.16.

Salesforce Trading Up 3.0 %

Salesforce stock opened at $221.46 on Thursday. Salesforce has a 52 week low of $126.34 and a 52 week high of $238.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $215.70 billion, a P/E ratio of 582.80, a PEG ratio of 2.09 and a beta of 1.20. The stock has a 50-day simple moving average of $215.98 and a 200 day simple moving average of $201.91.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a return on equity of 5.75% and a net margin of 1.18%. The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter last year, the company posted $0.52 earnings per share. Salesforce’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Salesforce will post 5.27 earnings per share for the current year.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 24,281 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $212.35, for a total transaction of $5,156,070.35. Following the completion of the sale, the chief financial officer now owns 34,180 shares in the company, valued at approximately $7,258,123. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Amy E. Weaver sold 24,281 shares of Salesforce stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $212.35, for a total value of $5,156,070.35. Following the completion of the transaction, the chief financial officer now directly owns 34,180 shares in the company, valued at approximately $7,258,123. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 16,275 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $212.81, for a total transaction of $3,463,482.75. Following the completion of the transaction, the chief financial officer now directly owns 35,107 shares of the company’s stock, valued at $7,471,120.67. The disclosure for this sale can be found here. Insiders sold a total of 1,247,764 shares of company stock worth $265,660,783 in the last quarter. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Salesforce by 92,823.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 238,763,957 shares of the CRM provider’s stock worth $50,441,274,000 after acquiring an additional 238,507,009 shares during the last quarter. State Street Corp lifted its holdings in shares of Salesforce by 0.3% during the 2nd quarter. State Street Corp now owns 45,653,307 shares of the CRM provider’s stock worth $9,644,718,000 after acquiring an additional 143,962 shares during the last quarter. FMR LLC raised its position in Salesforce by 1.9% in the 1st quarter. FMR LLC now owns 36,357,722 shares of the CRM provider’s stock worth $7,263,546,000 after purchasing an additional 695,355 shares during the period. Capital World Investors raised its position in Salesforce by 30.2% in the 2nd quarter. Capital World Investors now owns 19,242,436 shares of the CRM provider’s stock worth $4,065,157,000 after purchasing an additional 4,458,227 shares during the period. Finally, Morgan Stanley raised its position in Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock worth $2,519,719,000 after purchasing an additional 149,012 shares during the period. 77.52% of the stock is owned by institutional investors.

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 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.