BMO Capital Markets Has Lowered Expectations for Salesforce (NYSE:CRM) Stock Price

Salesforce (NYSE:CRM) had its target price lowered by analysts at BMO Capital Markets from $425.00 to $375.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the CRM provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 21.15% from the stock’s current price.

A number of other equities analysts have also weighed in on CRM. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Bank of America boosted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group upped their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $375.53.

Salesforce Stock Down 2.8 %

NYSE CRM opened at $309.54 on Friday. The business’s 50-day moving average is $333.34 and its 200 day moving average is $305.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $296.23 billion, a PE ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Salesforce will post 7.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,833 shares of company stock worth $381,389,136 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the business. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $31,000. 80.43% of the stock is currently owned by institutional investors.

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.