Salesforce (NYSE:CRM) Price Target Cut to $275.00 by Analysts at BMO Capital Markets

Salesforce (NYSE:CRM) had its price objective reduced by BMO Capital Markets from $280.00 to $275.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have an outperform rating on the CRM provider’s stock.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada decreased their price target on shares of Salesforce from $275.00 to $250.00 and set a “sector perform” rating for the company in a report on Thursday, September 4th. Cantor Fitzgerald restated an “overweight” rating and set a $325.00 price objective on shares of Salesforce in a research report on Tuesday, November 25th. Barclays increased their target price on Salesforce from $316.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday. Northland Capmk downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Bank of America dropped their price objective on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Twenty-nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.27.

Salesforce Price Performance

CRM stock 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 quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $242.92 and its two-hundred day moving average is $253.07. Salesforce has a 52-week low of $221.96 and a 52-week high of $367.15.

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

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction on 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 transaction, the insider owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. This represents a 49.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 122 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total value of $31,598.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $3,085,096,889. This represents a 0.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 184,284 shares of company stock worth $43,862,999 over the last quarter. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Painted Porch Advisors LLC increased its position in shares of Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 65 shares in the last quarter. Evolution Wealth Management Inc. purchased a new position in Salesforce during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC acquired a new stake in Salesforce during the 3rd quarter valued at $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Finally, Christopher J. Hasenberg Inc boosted its position in shares of Salesforce by 383.3% in the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock worth $32,000 after buying an additional 92 shares during the period. 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.