Salesforce (NYSE:CRM) Receives “Buy” Rating from BTIG Research

Salesforce (NYSE:CRM)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a note issued to investors on Monday,Benzinga reports. They presently have a $255.00 target price on the CRM provider’s stock. BTIG Research’s target price points to a potential upside of 21.89% from the stock’s current price.

Other analysts have also issued research reports about the stock. Sanford C. Bernstein lowered their target price on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research note on Thursday, May 28th. B. Riley Financial raised their price target on shares of Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Citigroup lifted their price target on shares of Salesforce from $187.00 to $204.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. Monness Crespi & Hardt boosted their price objective on shares of Salesforce from $200.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, HC Wainwright lowered shares of Salesforce to a “negative” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.87.

Salesforce Trading Up 0.0%

Shares of NYSE CRM opened at $209.20 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $174.33 and its two-hundred day moving average price is $181.35. Salesforce has a 52-week low of $146.32 and a 52-week high of $269.11. The stock has a market capitalization of $171.33 billion, a P/E ratio of 24.21, a PEG ratio of 1.13 and a beta of 1.16.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, analysts anticipate that Salesforce will post 10.27 earnings per share for the current fiscal year.

Institutional Trading of Salesforce

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in shares of Salesforce by 13,260.5% during the second quarter. California State Teachers Retirement System now owns 188,085,056 shares of the CRM provider’s stock worth $29,465,405,000 after buying an additional 186,677,290 shares during the period. BlackRock Inc. acquired a new stake in Salesforce in the 2nd quarter valued at approximately $11,396,844,000. J. Stern & Co. LLP increased its position in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after acquiring an additional 47,189,352 shares during the period. Bank of America Corp DE bought a new stake in Salesforce during the 2nd quarter valued at $1,914,086,000. Finally, Norges Bank bought a new stake in Salesforce during the 4th quarter valued at $3,182,951,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Company Profile

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.