Salesforce’s (CRM) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Salesforce (NYSE:CRMFree Report) in a research report released on Thursday, Benzinga reports. Royal Bank of Canada currently has a $240.00 target price on the CRM provider’s stock.

Several other analysts have also recently commented on CRM. JMP Securities raised their price target on Salesforce from $250.00 to $275.00 in a report on Thursday, June 1st. Wells Fargo & Company upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock an overweight rating in a research note on Thursday. Sanford C. Bernstein raised their price objective on shares of Salesforce from $145.00 to $153.00 in a research note on Thursday, June 1st. BMO Capital Markets upped their target price on shares of Salesforce from $255.00 to $262.00 and gave the stock an outperform rating in a research report on Thursday. Finally, StockNews.com assumed coverage on shares of Salesforce in a research report on Thursday, August 17th. They set a buy rating for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of Moderate Buy and a consensus target price of $239.86.

Get Our Latest Research Report on Salesforce

Salesforce Stock Up 0.0 %

Shares of Salesforce stock opened at $221.53 on Thursday. Salesforce has a one year low of $126.34 and a one year high of $238.22. The company has a market cap of $215.77 billion, a P/E ratio of 582.99, a PEG ratio of 2.09 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $216.21 and a two-hundred day moving average of $202.70.

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

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 16,086,166 shares of the company’s stock, valued at $3,299,594,369.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, insider Parker Harris sold 1,250 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $215.50, for a total transaction of $269,375.00. Following the transaction, the insider now owns 100,309 shares in the company, valued at $21,616,589.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $205.12, for a total transaction of $3,076,800.00. Following the transaction, the chief executive officer now directly owns 16,086,166 shares in the company, valued at $3,299,594,369.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,119,945 shares of company stock worth $239,106,129. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRM. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Salesforce by 374.1% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Union Savings Bank acquired a new position in shares of Salesforce in the second quarter worth about $27,000. NewSquare Capital LLC raised its holdings in Salesforce by 132.8% in the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 85 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new stake in Salesforce in the fourth quarter valued at $36,000. 77.52% of the stock is owned by institutional investors and hedge funds.

About Salesforce

(Get Free Report)

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.

See Also

Analyst Recommendations for Salesforce (NYSE:CRM)

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.