Salesforce, Inc. (NYSE:CRM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Salesforce, Inc. (NYSE:CRM) have received a consensus rating of “Moderate Buy” from the thirty-five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $292.79.

CRM has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Evercore ISI reduced their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $300.00 target price (down previously from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $309.64, for a total value of $4,644,600.00. Following the sale, the chief executive officer now owns 13,101,166 shares of the company’s stock, valued at approximately $4,056,645,040.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $309.64, for a total value of $4,644,600.00. Following the sale, the chief executive officer now directly owns 13,101,166 shares in the company, valued at approximately $4,056,645,040.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Mason Morfit acquired 428,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the acquisition, the director now owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Insiders sold 634,670 shares of company stock valued at $178,310,008 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Salesforce during the 4th quarter worth about $2,762,331,000. Capital International Investors lifted its holdings in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Finally, GQG Partners LLC bought a new stake in Salesforce during the 1st quarter worth approximately $910,220,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $231.94 on Wednesday. The firm has a 50 day moving average of $268.79 and a 200-day moving average of $277.27. Salesforce has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $224.75 billion, a PE ratio of 41.72, a PEG ratio of 2.04 and a beta of 1.25.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. On average, equities research analysts predict that Salesforce will post 7.47 EPS for the current fiscal year.

About Salesforce

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.