Argus Increases Salesforce (NYSE:CRM) Price Target to $300.00

Salesforce (NYSE:CRM) had its price target increased by stock analysts at Argus from $290.00 to $300.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the CRM provider’s stock. Argus’ price objective would indicate a potential upside of 16.91% from the company’s previous close.

A number of other equities analysts have also weighed in on CRM. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective (up from $250.00) on shares of Salesforce in a research report on Thursday. DA Davidson raised their target price on shares of Salesforce from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Salesforce from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Salesforce in a research note on Thursday. Finally, HSBC increased their price target on shares of Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $262.12.

Salesforce Trading Up 0.2%

Shares of Salesforce stock opened at $256.60 on Monday. Salesforce has a 12-month low of $146.32 and a 12-month high of $269.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a market cap of $211.18 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.12 and a beta of 1.16. The company has a fifty day simple moving average of $181.24 and a 200-day simple moving average of $182.47.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The business had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. During the same period last year, the firm posted $2.91 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities analysts forecast that Salesforce will post 12.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its holdings in Salesforce by 0.3% in the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock valued at $3,548,000 after acquiring an additional 45 shares during the last quarter. Synergy Financial Group LTD increased its stake in Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock worth $482,000 after acquiring an additional 48 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of Salesforce by 35.4% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 52 shares during the period. Krane Funds Advisors LLC raised its holdings in shares of Salesforce by 0.7% in the 4th quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider’s stock worth $2,187,000 after purchasing an additional 57 shares during the period. Finally, HBW Advisory Services LLC lifted its stake in shares of Salesforce by 0.4% in the 1st quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider’s stock valued at $2,445,000 after purchasing an additional 57 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.