Salesforce (NYSE:CRM) Receives “Neutral” Rating from Guggenheim

Salesforce (NYSE:CRM)‘s stock had its “neutral” rating reaffirmed by equities researchers at Guggenheim in a report released on Thursday,Benzinga reports.

Other equities analysts also recently issued research reports about the stock. Evercore ISI reissued an “outperform” rating on shares of Salesforce in a report on Thursday. Robert W. Baird cut their price objective on Salesforce from $365.00 to $325.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Barclays reissued an “overweight” rating on shares of Salesforce in a research note on Thursday. Canaccord Genuity Group lowered their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Salesforce in a research note on Monday, November 24th. Twenty-seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $322.86.

Salesforce Trading Up 1.6%

Shares of NYSE:CRM opened at $238.47 on Thursday. Salesforce has a 12-month low of $221.96 and a 12-month high of $369.00. The company has a market cap of $227.02 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The stock has a 50 day moving average of $242.78 and a 200 day moving average of $253.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities research analysts expect that Salesforce will post 7.46 EPS for the current year.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 122 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total value of $31,598.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,085,096,889. This represents a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 134,662 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the transaction, the insider directly owned 139,767 shares in the company, valued at $32,803,314.90. This trade represents a 49.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,284 shares of company stock valued at $43,862,999 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Salesforce by 0.8% in the third quarter. Vanguard Group Inc. now owns 89,572,253 shares of the CRM provider’s stock worth $21,228,624,000 after purchasing an additional 748,772 shares in the last quarter. State Street Corp boosted its stake in Salesforce by 0.3% in the third quarter. State Street Corp now owns 49,420,657 shares of the CRM provider’s stock valued at $11,732,966,000 after acquiring an additional 159,739 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Salesforce by 0.6% during the second quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock worth $5,669,224,000 after purchasing an additional 114,504 shares in the last quarter. Capital International Investors lifted its holdings in shares of Salesforce by 9.4% during the 3rd quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock valued at $4,753,519,000 after purchasing an additional 1,729,440 shares during the last quarter. Finally, Capital World Investors grew its stake in Salesforce by 159.0% during the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock worth $4,106,255,000 after buying an additional 10,636,161 shares during the last quarter. 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.