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

Salesforce (NYSE:CRM) had its target price increased by analysts at DA Davidson from $250.00 to $300.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the CRM provider’s stock. DA Davidson’s price objective would indicate a potential downside of 18.46% from the stock’s current price.

Several other equities analysts also recently commented on CRM. BMO Capital Markets upped their target price on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Loop Capital upped their target price on Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Truist Financial upped their target price on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Bank of America upped their target price on Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein boosted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Eight equities 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $370.50.

Salesforce Price Performance

Shares of NYSE CRM opened at $367.94 on Tuesday. The business’s 50 day moving average price is $306.55 and its two-hundred day moving average price is $271.81. The company has a market cap of $351.75 billion, a PE ratio of 63.99, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 period last year, the firm earned $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Salesforce will post 7.54 EPS for the current year.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,982 shares of company stock worth $41,591,457 over the last three months. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aviance Capital Partners LLC boosted its position in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares in the last quarter. EWA LLC lifted its position in Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after acquiring an additional 33 shares in the last quarter. Umpqua Bank lifted its position in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares in the last quarter. Principal Street Partners LLC lifted its position in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after acquiring an additional 34 shares in the last quarter. Finally, Nvwm LLC lifted its position in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. 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.