Salesforce (NYSE:CRM) Stock Price Expected to Rise, Citigroup Analyst Says

Salesforce (NYSE:CRMGet Free Report) had its target price upped by investment analysts at Citigroup from $197.00 to $200.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the CRM provider’s stock. Citigroup’s price target would indicate a potential upside of 1.92% from the stock’s previous close.

A number of other research firms also recently weighed in on CRM. Evercore decreased their price objective on Salesforce from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. BTIG Research decreased their price target on Salesforce from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company lowered their price target on Salesforce from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Macquarie Infrastructure lifted their price objective on Salesforce from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $430.00 target price on shares of Salesforce in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.14.

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Salesforce Trading Up 1.7%

Shares of Salesforce stock opened at $196.24 on Monday. Salesforce has a 52-week low of $174.57 and a 52-week high of $298.08. The firm has a market capitalization of $183.88 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.98. The company’s fifty day moving average price is $221.20 and its two-hundred day moving average price is $237.77.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.76. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $11.18 billion. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $2.78 EPS. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, analysts expect that Salesforce will post 7.46 EPS for the current year.

Insider Buying and Selling at Salesforce

In related news, Director Neelie Kroes sold 3,893 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total value of $929,259.10. Following the completion of the transaction, the director owned 7,299 shares in the company, valued at $1,742,271.30. The trade was a 34.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Blair Kirk acquired 1,936 shares of Salesforce stock in a transaction on Wednesday, December 17th. The shares were purchased at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the acquisition, the director owned 10,677 shares in the company, valued at approximately $2,761,499.28. This represents a 22.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Commonwealth Retirement Investments LLC bought a new stake in Salesforce during the 4th quarter worth about $25,000. Marquette Asset Management LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Key Capital Management INC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Finally, Gilpin Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $26,000. Institutional investors own 80.43% of the company’s stock.

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About Salesforce

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Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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