Salesforce (NYSE:CRM) Earns Market Outperform Rating from JMP Securities

Salesforce (NYSE:CRM)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $450.00 target price on the CRM provider’s stock. JMP Securities’ target price points to a potential upside of 22.30% from the company’s current price.

Several other analysts also recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Piper Sandler lifted their price target on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a report on Monday. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley lifted their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $370.50.

Salesforce Trading Up 11.0 %

Shares of Salesforce stock opened at $367.94 on Tuesday. The stock has a market capitalization of $351.75 billion, a PE ratio of 63.99, a P/E/G ratio of 3.00 and a beta of 1.30. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00. The company’s fifty day simple moving average is $306.55 and its 200-day simple moving average is $271.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

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

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. This represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,982 shares of company stock valued at $41,591,457 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC raised its stake 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 worth $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the 2nd quarter valued at approximately $33,000. Institutional investors 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.