Salesforce (NYSE:CRM – Get Rating) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $200.00 to $190.00 in a research note published on Monday morning, The Fly reports. The brokerage currently has a buy rating on the CRM provider's stock.
A number of other research analysts also recently issued reports on CRM. UBS Group dropped their target price on shares of Salesforce from $180.00 to $162.00 and set a neutral rating on the stock in a research report on Thursday, December 1st. Wedbush cut their price objective on shares of Salesforce from $215.00 to $200.00 and set an outperform rating on the stock in a research report on Thursday, December 1st. Barclays decreased their target price on Salesforce from $193.00 to $180.00 and set an overweight rating for the company in a research report on Thursday, December 1st. Oppenheimer cut their price target on Salesforce from $200.00 to $185.00 and set an outperform rating on the stock in a report on Thursday, December 1st. Finally, Monness Crespi & Hardt downgraded Salesforce from a buy rating to a neutral rating in a report on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of Moderate Buy and an average target price of $189.81.
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Salesforce Price Performance
CRM stock opened at $165.09 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The company's fifty day simple moving average is $141.17 and its 200 day simple moving average is $155.56. Salesforce has a 12-month low of $126.34 and a 12-month high of $234.49. The firm has a market cap of $165.09 billion, a price-to-earnings ratio of 588.93, a PEG ratio of 3.88 and a beta of 1.15.
Salesforce (NYSE:CRM – Get Rating) last announced its quarterly earnings data on Wednesday, November 30th. The CRM provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.15. The company had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.83 billion. Salesforce had a return on equity of 3.21% and a net
margin of 0.92%. The firm's revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. On average, analysts expect that Salesforce will post 2.38 earnings per share for the current year.
Insider Buying and Selling at Salesforce
In related news, CAO Sundeep G. Reddy sold 186 shares of Salesforce stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $155.59, for a total value of $28,939.74. Following the completion of the sale, the chief accounting officer now owns 1,273 shares of the company's stock, valued at approximately $198,066.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 186 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $155.59, for a total transaction of $28,939.74. Following the completion of the transaction, the chief accounting officer now owns 1,273 shares in the company, valued at $198,066.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 7,759 shares of Salesforce stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $153.50, for a total transaction of $1,191,006.50. Following the completion of the transaction, the chief executive officer now owns 27,753,609 shares of the company's stock, valued at approximately $4,260,178,981.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,564 shares of company stock valued at $24,479,624. Company insiders own 3.60% of the company's stock.
Hedge Funds Weigh In On Salesforce
A number of large investors have recently made changes to their positions in CRM. Financial Management Professionals Inc. lifted its holdings in shares of Salesforce by 365.2% in the fourth quarter. Financial Management Professionals Inc. now owns 214 shares of the CRM provider's stock worth $28,000 after buying an additional 168 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Salesforce by 506.1% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider's stock worth $29,000 after acquiring an additional 167 shares during the period. GHP Investment Advisors Inc. lifted its stake in Salesforce by 113.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider's stock worth $30,000 after purchasing an additional 110 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Tradewinds Capital Management LLC grew its position in shares of Salesforce by 44.4% during the 4th quarter. Tradewinds Capital Management LLC now owns 244 shares of the CRM provider's stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. 75.83% of the stock is owned by institutional investors.
Salesforce Company Profile
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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.
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