Stifel Nicolaus Has Lowered Expectations for Salesforce (NYSE:CRM) Stock Price

Salesforce (NYSE:CRM) had its price target reduced by stock analysts at Stifel Nicolaus from $375.00 to $325.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the CRM provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 39.27% from the stock’s current price.

Other analysts have also issued research reports about the stock. UBS Group set a $404.00 price target on shares of Salesforce and gave the company an “overweight” rating in a report on Wednesday, June 18th. BMO Capital Markets cut their target price on shares of Salesforce from $350.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, July 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $275.00 price target on shares of Salesforce in a report on Monday, July 14th. JMP Securities reissued a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a report on Friday, July 11th. Finally, Wells Fargo & Company raised their target price on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $346.84.

Salesforce Trading Down 1.5%

CRM stock opened at $233.37 on Wednesday. Salesforce has a 1-year low of $226.48 and a 1-year high of $369.00. The firm has a market cap of $223.10 billion, a P/E ratio of 36.52, a P/E/G ratio of 2.15 and a beta of 1.37. The business’s 50 day moving average is $261.05 and its 200-day moving average is $276.65. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the business posted $2.44 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that Salesforce will post 7.46 earnings per share for the current fiscal year.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $234.64, for a total value of $527,940.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $2,794,931,019.44. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 46,532 shares of company stock valued at $12,082,694. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth approximately $25,000. Painted Porch Advisors LLC grew its holdings in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after purchasing an additional 65 shares during the last quarter. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at $27,000. Capital A Wealth Management LLC boosted its position in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its position in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after buying an additional 85 shares during the period. 80.43% of the stock is currently owned by hedge funds and other 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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.