Wells Fargo & Company Cuts Salesforce (NYSE:CRM) Price Target to $265.00

Salesforce (NYSE:CRM) had its price objective reduced by Wells Fargo & Company from $275.00 to $265.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the CRM provider’s stock.

A number of other brokerages have also recently issued reports on CRM. Bank of America cut their target price on shares of Salesforce from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Piper Sandler cut their target price on shares of Salesforce from $335.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on Salesforce from $380.00 to $365.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $331.34.

Salesforce Stock Performance

Shares of NYSE CRM opened at $250.40 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $255.64 and its two-hundred day moving average price is $266.68. Salesforce has a 52-week low of $226.48 and a 52-week high of $369.00. The stock has a market capitalization of $239.39 billion, a P/E ratio of 36.40, a P/E/G ratio of 2.27 and a beta of 1.22.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.34%. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the company posted $2.56 earnings per share. Salesforce’s revenue was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, sell-side analysts forecast that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be given a $0.416 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce’s payout ratio is 25.98%.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 66,077 shares of company stock valued at $16,885,773 in the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Coign Capital Advisors LLC grew its position in Salesforce by 1.7% in the first quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider’s stock worth $586,000 after buying an additional 37 shares during the last quarter. Staley Capital Advisers Inc. grew its position in Salesforce by 1.1% during the 1st quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider’s stock worth $897,000 after purchasing an additional 38 shares in the last quarter. KDT Advisors LLC grew its position in Salesforce by 4.1% during the 1st quarter. KDT Advisors LLC now owns 967 shares of the CRM provider’s stock worth $260,000 after purchasing an additional 38 shares in the last quarter. Liberty One Investment Management LLC grew its position in Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider’s stock worth $849,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its position in Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider’s stock worth $154,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Salesforce

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.