Salesforce (NYSE:CRM – Free Report) had its price objective boosted by Stifel Nicolaus from $250.00 to $275.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. Stifel Nicolaus currently has a buy rating on the CRM provider’s stock.
Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets increased their price objective on shares of Salesforce from $255.00 to $262.00 and gave the stock an outperform rating in a research report on Thursday. UBS Group boosted their price objective on Salesforce from $220.00 to $240.00 and gave the company a neutral rating in a research note on Thursday. Loop Capital raised their target price on Salesforce from $215.00 to $230.00 and gave the stock a hold rating in a research note on Thursday. JMP Securities boosted their price target on Salesforce from $250.00 to $275.00 in a research note on Thursday, June 1st. Finally, Robert W. Baird raised their price objective on shares of Salesforce from $210.00 to $220.00 and gave the stock a neutral rating in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $237.16.
Salesforce Price Performance
Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.22. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Salesforce had a return on equity of 5.75% and a net margin of 1.18%. Salesforce’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. As a group, equities analysts expect that Salesforce will post 5.27 EPS for the current year.
Insider Activity at Salesforce
In other Salesforce news, CAO Sundeep G. Reddy sold 164 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $225.05, for a total transaction of $36,908.20. Following the completion of the transaction, the chief accounting officer now owns 2,230 shares in the company, valued at $501,861.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 164 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $225.05, for a total transaction of $36,908.20. Following the sale, the chief accounting officer now owns 2,230 shares in the company, valued at $501,861.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $213.73, for a total value of $3,205,950.00. Following the sale, the chief executive officer now owns 15,951,166 shares in the company, valued at $3,409,242,709.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,247,764 shares of company stock worth $265,660,783. Company insiders own 3.70% of the company’s stock.
Hedge Funds Weigh In On Salesforce
Several hedge funds have recently bought and sold shares of CRM. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Salesforce by 374.1% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock valued at $27,000 after purchasing an additional 101 shares during the period. Union Savings Bank bought a new stake in Salesforce during the second quarter valued at $27,000. NewSquare Capital LLC grew its position in Salesforce by 132.8% during the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners bought a new stake in shares of Salesforce during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.
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.
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