Deutsche Bank Aktiengesellschaft Lowers Salesforce (NYSE:CRM) Price Target to $220.00

Salesforce (NYSE:CRMGet Rating) had its price objective dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $255.00 to $220.00 in a report released on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 44.51% from the stock’s current price.

CRM has been the topic of several other reports. Canaccord Genuity Group reduced their target price on Salesforce from $260.00 to $215.00 in a research report on Thursday, August 25th. Macquarie reaffirmed an “outperform” rating and set a $210.00 target price on shares of Salesforce in a research report on Wednesday, November 2nd. Wedbush reduced their target price on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. UBS Group reduced their target price on Salesforce from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Finally, Monness Crespi & Hardt downgraded Salesforce from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. Six research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $224.24.

Salesforce Trading Up 2.0 %

CRM opened at $152.24 on Tuesday. The firm has a market cap of $152.24 billion, a price-to-earnings ratio of 281.93, a PEG ratio of 3.92 and a beta of 1.12. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. Salesforce has a 12 month low of $136.04 and a 12 month high of $299.27. The stock has a fifty day moving average price of $151.77 and a 200-day moving average price of $164.81.

Salesforce (NYSE:CRMGet Rating) last announced its earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same period in the prior year, the company posted $0.87 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce will post 2.21 earnings per share for the current fiscal year.

Salesforce declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 24th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the CRM provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $142.30, for a total transaction of $327,290.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $3,950,442,666.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $142.30, for a total transaction of $327,290.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $3,950,442,666.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 47,095 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $144.88, for a total value of $6,823,123.60. Following the completion of the sale, the insider now directly owns 95,155 shares of the company’s stock, valued at approximately $13,786,056.40. The disclosure for this sale can be found here. Insiders sold 207,522 shares of company stock valued at $31,643,534 over the last quarter. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Salesforce by 506.1% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock worth $29,000 after buying an additional 167 shares during the period. MCF Advisors LLC acquired a new stake in Salesforce in the first quarter valued at $30,000. GHP Investment Advisors Inc. raised its stake in Salesforce by 113.4% in the third quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock valued at $30,000 after buying an additional 110 shares in the last quarter. FSC Wealth Advisors LLC increased its position in shares of Salesforce by 1,350.0% during the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after purchasing an additional 135 shares in the last quarter. Finally, Verity Asset Management Inc. acquired a new stake in shares of Salesforce during the first quarter worth about $35,000. 77.02% of the stock is currently owned by hedge funds and other institutional investors.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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