Mizuho Lowers Salesforce (NYSE:CRM) Price Target to $280.00

Salesforce (NYSE:CRM) had its price objective lowered by investment analysts at Mizuho from $340.00 to $280.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the CRM provider’s stock. Mizuho’s target price suggests a potential upside of 47.70% from the stock’s previous close.

CRM has been the topic of several other reports. Citigroup lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Oppenheimer lowered their price objective on Salesforce from $300.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Salesforce in a research note on Monday, December 29th. Finally, Evercore dropped their price target on shares of Salesforce from $360.00 to $340.00 and set an “outperform” rating on the stock in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.27.

Salesforce Trading Up 2.2%

Shares of CRM stock opened at $189.58 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $177.63 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.29 and a beta of 1.27. Salesforce has a 52-week low of $180.24 and a 52-week high of $329.74. The company has a 50-day simple moving average of $236.82 and a two-hundred day simple moving average of $241.82.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Research analysts anticipate that Salesforce will post 7.46 EPS for the current fiscal year.

Insider Activity at Salesforce

In other Salesforce news, Director Neelie Kroes sold 3,893 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total value of $929,259.10. Following the completion of the sale, the director owned 7,299 shares of the company’s stock, valued at $1,742,271.30. This represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Mason Morfit purchased 96,000 shares of Salesforce stock in a transaction on Friday, December 5th. The shares were acquired at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the completion of the transaction, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. The trade was a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Retirement Investments LLC purchased a new position in shares of Salesforce in the fourth quarter worth about $25,000. Marquette Asset Management LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Key Capital Management INC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Finally, Gilpin Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth $26,000. Institutional investors own 80.43% of the company’s stock.

About Salesforce

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.