Salesforce, Inc. (NYSE:CRM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Salesforce, Inc. (NYSE:CRM) have been assigned an average rating of “Moderate Buy” from the thirty-nine research firms that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $345.31.

A number of brokerages have weighed in on CRM. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a report on Friday, August 30th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Tuesday. Jefferies Financial Group boosted their price target on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Bank of America upped their price target on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 140,982 shares of company stock valued at $41,591,457. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth about $27,000. Clear Investment Research LLC raised its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $331.77 on Wednesday. The stock has a 50-day simple moving average of $304.68 and a 200 day simple moving average of $271.14. Salesforce has a twelve month low of $212.00 and a twelve month high of $348.86. The stock has a market capitalization of $317.17 billion, a PE ratio of 57.70, a P/E/G ratio of 3.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Salesforce will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s payout ratio is 27.83%.

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.