Salesforce (NYSE:CRM) Receives Neutral Rating from Guggenheim

Guggenheim restated their neutral rating on shares of Salesforce (NYSE:CRM) in a report issued on Thursday,Benzinga reports.

CRM has been the subject of a number of other research reports. Citigroup reaffirmed an “outperform” rating on shares of Salesforce in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Salesforce in a report on Thursday. Northland Capmk downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Roth Capital reiterated a “buy” rating and set a $395.00 price objective on shares of Salesforce in a report on Thursday, September 4th. Finally, Oppenheimer decreased their target price on shares of Salesforce from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday. Twenty-nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.27.

Salesforce Stock Performance

Shares of NYSE CRM opened at $247.92 on Thursday. The company has a 50-day simple moving average of $242.92 and a 200-day simple moving average of $253.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $236.02 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25. Salesforce has a 12 month low of $221.96 and a 12 month high of $367.15.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. The firm had revenue of $10.26 billion for 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%. Salesforce’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, equities analysts anticipate that Salesforce will post 7.46 earnings per share for the current year.

Insider Transactions at Salesforce

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

Hedge Funds Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the company. Painted Porch Advisors LLC boosted its holdings in Salesforce by 260.0% in the second 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. Marquette Asset Management LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $26,000. Evolution Wealth Management Inc. purchased a new stake in Salesforce during the 2nd quarter worth approximately $27,000. Texas Capital Bancshares Inc TX acquired a new position in shares of Salesforce in the 3rd quarter valued at approximately $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of 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 last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.