Salesforce (NYSE:CRM) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of Salesforce (NYSE:CRM) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $375.00 price target on the CRM provider’s stock.

Several other research firms have also issued reports on CRM. Citizens Jmp reaffirmed a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a report on Tuesday. Mizuho dropped their target price on Salesforce from $350.00 to $340.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. Northland Securities lowered Salesforce from an “outperform” rating to a “market perform” rating and set a $264.00 target price on the stock. in a research report on Tuesday, October 14th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday. Finally, Roth Capital restated a “buy” rating and set a $395.00 price target on shares of Salesforce in a research note on Thursday, September 4th. Twenty-nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $326.27.

Salesforce Trading Up 3.9%

Shares of NYSE:CRM opened at $247.92 on Thursday. The company has a market capitalization of $236.02 billion, a PE ratio of 33.10, a P/E/G ratio of 1.87 and a beta of 1.25. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce has a 12-month low of $221.96 and a 12-month high of $367.15. The business’s fifty day simple moving average is $242.92 and its 200-day simple moving average is $253.07.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a return on equity of 14.35% and a net margin of 17.91%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities research analysts predict that Salesforce will post 7.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 122 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $259.00, for a total transaction of $31,598.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,085,096,889. This trade represents a 0.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total value of $31,605,171.40. Following the completion of the transaction, the insider directly owned 139,767 shares of the company’s stock, valued at $32,803,314.90. The trade was a 49.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,284 shares of company stock worth $43,862,999 over the last three months. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

Large investors have recently bought and sold shares of the company. Painted Porch Advisors LLC boosted its stake in Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 65 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $26,000. Evolution Wealth Management Inc. purchased a new position in shares of Salesforce in the second quarter worth about $27,000. Texas Capital Bancshares Inc TX acquired a new position in Salesforce during the third quarter worth about $28,000. Finally, CBIZ Investment Advisory Services LLC grew its stake 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 acquiring an additional 85 shares in the last quarter. 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.