Salesforce (NYSE:CRM) Given Neutral Rating at Piper Sandler

Salesforce (NYSE:CRM)‘s stock had its “neutral” rating reiterated by research analysts at Piper Sandler in a research note issued on Monday, Benzinga reports. They presently have a $300.00 target price on the CRM provider’s stock. Piper Sandler’s price objective indicates a potential upside of 8.14% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wedbush boosted their price target on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Mizuho restated a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.87.

Salesforce Trading Up 1.7 %

CRM opened at $277.41 on Monday. The stock has a market capitalization of $269.09 billion, a P/E ratio of 66.05, a P/E/G ratio of 2.26 and a beta of 1.28. Salesforce has a 12 month low of $190.57 and a 12 month high of $318.71. The firm’s fifty day simple moving average is $298.35 and its 200 day simple moving average is $260.79. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 7,074 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total value of $2,009,016.00. Following the completion of the transaction, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 7,074 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total value of $2,009,016.00. Following the completion of the transaction, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 897,375 shares of company stock valued at $260,206,096. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several large investors have recently modified their holdings of the business. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $26,000. Aspect Partners LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $29,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. Finally, Main Street Group LTD acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. Institutional investors own 80.43% of the company’s stock.

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.