Salesforce, Inc. (NYSE:CRM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Salesforce, Inc. (NYSE:CRMGet Free Report) have earned an average recommendation of “Moderate Buy” from the thirty-three research firms that are presently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $304.32.

A number of brokerages recently issued reports on CRM. Bank of America increased their price objective on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Mizuho reiterated a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Citigroup upped their price target on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, KeyCorp assumed coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock.

View Our Latest Report on Salesforce

Insider Activity

In related news, CFO Amy E. Weaver sold 2,536 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $260.54, for a total value of $660,729.44. Following the completion of the sale, the chief financial officer now directly owns 37,979 shares of the company’s stock, valued at $9,895,048.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 2,536 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $260.54, for a total value of $660,729.44. Following the sale, the chief financial officer now directly owns 37,979 shares of the company’s stock, valued at $9,895,048.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $258.58, for a total value of $2,585,800.00. Following the completion of the transaction, the insider now directly owns 59,861 shares of the company’s stock, valued at approximately $15,478,857.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 901,258 shares of company stock worth $256,569,563. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently modified their holdings of CRM. Fairfield Bush & CO. raised its holdings in Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after buying an additional 357 shares during the period. Roundview Capital LLC boosted its stake in shares of Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after purchasing an additional 3,809 shares during the period. Covestor Ltd grew its holdings in Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after purchasing an additional 186 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of Salesforce during the first quarter worth about $455,000. Finally, Mackenzie Financial Corp increased its holdings in Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after purchasing an additional 151,440 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $301.18 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $292.14 billion, a P/E ratio of 71.71, a P/E/G ratio of 2.35 and a beta of 1.28. Salesforce has a 52-week low of $187.31 and a 52-week high of $318.71. The stock’s 50-day simple moving average is $294.19 and its 200 day simple moving average is $252.10.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business 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 return on equity of 10.42%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, research analysts anticipate that Salesforce will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Salesforce Company Profile

(Get Free Report

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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

See Also

Analyst Recommendations for Salesforce (NYSE:CRM)

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