Deutsche Bank Aktiengesellschaft Trims Salesforce (NYSE:CRM) Target Price to $190.00

Salesforce (NYSE:CRMGet Rating) had its target price lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $200.00 to $190.00 in a report released on Monday, The Fly reports. The firm currently has a “buy” rating on the CRM provider’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 21.90% from the stock’s current price.

A number of other research analysts also recently weighed in on CRM. Macquarie reissued an “outperform” rating and issued a $210.00 price objective on shares of Salesforce in a research note on Wednesday, November 2nd. Royal Bank of Canada lowered their target price on shares of Salesforce from $235.00 to $200.00 in a research note on Thursday, December 1st. Oppenheimer decreased their price target on shares of Salesforce from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, December 1st. Credit Suisse Group lowered their price target on Salesforce from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Monday, December 5th. Finally, Evercore ISI cut their price objective on Salesforce from $225.00 to $200.00 in a research report on Monday, November 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $189.81.

Salesforce Stock Performance

CRM stock opened at $155.87 on Monday. The firm has a 50 day moving average of $141.29 and a two-hundred day moving average of $155.70. Salesforce has a 12 month low of $126.34 and a 12 month high of $234.49. The company has a market capitalization of $155.87 billion, a price-to-earnings ratio of 556.68, a P/E/G ratio of 3.79 and a beta of 1.15. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Wednesday, November 30th. The CRM provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.15. The business had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.83 billion. Salesforce had a net margin of 0.92% and a return on equity of 3.21%. Salesforce’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, equities analysts anticipate that Salesforce will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 186 shares of Salesforce stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total value of $28,939.74. Following the completion of the transaction, the chief accounting officer now owns 1,273 shares in the company, valued at $198,066.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $161.05, for a total value of $370,415.00. Following the completion of the transaction, the chief executive officer now directly owns 27,761,368 shares of the company’s stock, valued at $4,470,968,316.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 186 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total transaction of $28,939.74. Following the sale, the chief accounting officer now directly owns 1,273 shares in the company, valued at $198,066.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,164 shares of company stock valued at $25,221,512. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Oak Harvest Investment Services raised its holdings in Salesforce by 1.1% during the 2nd quarter. Oak Harvest Investment Services now owns 32,360 shares of the CRM provider’s stock worth $5,341,000 after purchasing an additional 339 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Salesforce by 40.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,383 shares of the CRM provider’s stock valued at $393,000 after acquiring an additional 685 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Salesforce by 1,014.8% in the 2nd quarter. Verition Fund Management LLC now owns 32,386 shares of the CRM provider’s stock valued at $5,345,000 after purchasing an additional 29,481 shares during the period. Stephens Inc. AR boosted its position in shares of Salesforce by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 137,757 shares of the CRM provider’s stock worth $19,815,000 after purchasing an additional 656 shares during the last quarter. Finally, Archford Capital Strategies LLC grew its stake in shares of Salesforce by 6.6% during the third quarter. Archford Capital Strategies LLC now owns 4,736 shares of the CRM provider’s stock worth $681,000 after purchasing an additional 295 shares during the period. 75.83% of the stock is currently owned by institutional investors.

Salesforce Company Profile

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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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