Salesforce, Inc. (NYSE:CRM – Get Rating) has received an average rating of “Moderate Buy” from the forty-five brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $272.50.
CRM has been the topic of several analyst reports. Royal Bank of Canada set a $325.00 price target on Salesforce in a report on Wednesday, March 2nd. Wedbush reduced their price target on Salesforce from $315.00 to $275.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. JPMorgan Chase & Co. reduced their price target on Salesforce from $316.00 to $275.00 in a report on Wednesday, June 1st. CICC Research initiated coverage on Salesforce in a report on Monday, May 9th. They set an “outperform” rating on the stock. Finally, Piper Sandler reduced their price target on Salesforce from $330.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st.
In other news, insider Srinivas Tallapragada sold 895 shares of the stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $171.68, for a total value of $153,653.60. Following the completion of the sale, the insider now directly owns 47,309 shares of the company’s stock, valued at $8,122,009.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Friday, March 25th. The stock was sold at an average price of $210.85, for a total value of $484,955.00. The disclosure for this sale can be found here. Insiders sold 108,840 shares of company stock worth $20,113,549 over the last quarter. 4.10% of the stock is currently owned by insiders.
Shares of CRM opened at $167.45 on Friday. Salesforce has a 52-week low of $154.55 and a 52-week high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $172.00 and its two-hundred day moving average is $205.29. The stock has a market cap of $166.61 billion, a PE ratio of 162.57, a price-to-earnings-growth ratio of 4.47 and a beta of 1.16.
Salesforce (NYSE:CRM – Get Rating) last announced its earnings results on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, research analysts anticipate that Salesforce will post 2.18 earnings per share for the current year.
About Salesforce (Get Rating)
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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