Salesforce (NYSE:CRM) PT Raised to $275.00

Salesforce (NYSE:CRM) had its price target lifted by investment analysts at Stifel Nicolaus from $250.00 to $275.00 in a research note issued to investors on Thursday, FlyOnTheWall reports. Stifel Nicolaus’ target price would indicate a potential upside of 27.88% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Barclays increased their target price on shares of Salesforce from $245.00 to $260.00 in a research note on Thursday. JMP Securities upped their target price on Salesforce from $250.00 to $275.00 in a research note on Thursday, June 1st. Citigroup lifted their price target on shares of Salesforce from $220.00 to $229.00 in a research note on Thursday. Robert W. Baird upped their price objective on shares of Salesforce from $210.00 to $220.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $230.00 to $240.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.19.

Salesforce Stock Performance

CRM opened at $215.04 on Thursday. The firm has a 50 day moving average of $215.82 and a two-hundred day moving average of $201.77. The firm has a market capitalization of $209.45 billion, a PE ratio of 565.91, a P/E/G ratio of 2.09 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Salesforce has a 12-month low of $126.34 and a 12-month high of $238.22.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a net margin of 1.18% and a return on equity of 5.75%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, analysts anticipate that Salesforce will post 5.27 EPS for the current year.

Insider Buying and Selling at Salesforce

In other news, insider Srinivas Tallapragada sold 150,344 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $210.62, for a total value of $31,665,453.28. Following the sale, the insider now directly owns 55,962 shares in the company, valued at $11,786,716.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $205.12, for a total transaction of $3,076,800.00. Following the completion of the transaction, the chief executive officer now owns 16,086,166 shares in the company, valued at $3,299,594,369.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 150,344 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $210.62, for a total value of $31,665,453.28. Following the completion of the sale, the insider now owns 55,962 shares in the company, valued at $11,786,716.44. The disclosure for this sale can be found here. Insiders sold 1,232,764 shares of company stock valued at $262,454,833 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich increased its stake in Salesforce by 92,823.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 238,763,957 shares of the CRM provider’s stock valued at $50,441,274,000 after purchasing an additional 238,507,009 shares during the last quarter. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter valued at $1,420,381,000. Moneta Group Investment Advisors LLC grew its position in shares of Salesforce by 125,717.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after buying an additional 10,252,257 shares during the last quarter. Capital International Investors boosted its stake in Salesforce by 1,151.2% in the second quarter. Capital International Investors now owns 7,117,212 shares of the CRM provider’s stock valued at $1,503,547,000 after acquiring an additional 6,548,396 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Salesforce by 30.2% during the second quarter. Capital World Investors now owns 19,242,436 shares of the CRM provider’s stock worth $4,065,157,000 after purchasing an additional 4,458,227 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes 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.