In a report released today, Rishi Jaluria from RBC Capital maintained a Buy rating on Salesforce (CRM – Research Report), with a price target of $350.00. The company’s shares closed yesterday at $299.15.
Jaluria covers the Technology sector, focusing on stocks such as Salesforce, DocuSign, and Palantir Technologies. According to TipRanks, Jaluria has an average return of 4.1% and a 52.11% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Salesforce with a $338.06 average price target, implying a 13.01% upside from current levels. In a report released on April 3, Stifel Nicolaus also maintained a Buy rating on the stock with a $350.00 price target.
Based on Salesforce’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $9.29 billion and a net profit of $1.45 billion. In comparison, last year the company earned a revenue of $8.38 billion and had a GAAP net loss of $98 million
Based on the recent corporate insider activity of 411 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.
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Salesforce (CRM) Company Description:
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
