Salesforce, Inc. (NYSE:CRM) Receives $310.61 Average PT from Analysts

Shares of Salesforce, Inc. (NYSE:CRM) have been given an average recommendation of “Moderate Buy” by the thirty-three brokerages that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $310.61.

Several research analysts recently issued reports on CRM shares. Oppenheimer raised their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. UBS Group raised their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Truist Financial reaffirmed a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the transaction, the insider now owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total transaction of $1,168,712.00. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock valued at $182,177,918 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRM. Bear Mountain Capital Inc. purchased a new position in Salesforce in the fourth quarter worth $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter worth $31,000. Pacifica Partners Inc. grew its position in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, Red Tortoise LLC purchased a new position in Salesforce in the first quarter worth $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.4 %

NYSE CRM opened at $274.29 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce has a twelve month low of $190.76 and a twelve month high of $318.71. The company has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. The business’s fifty day moving average is $295.97 and its 200 day moving average is $264.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the business posted $1.01 EPS. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is 9.52%.

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.