Salesforce (NYSE:CRM) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Salesforce (NYSE:CRMFree Report) from a buy rating to a strong-buy rating in a report published on Monday.

CRM has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on Salesforce from $240.00 to $260.00 and gave the stock an overweight rating in a research report on Thursday, November 30th. Bank of America boosted their price objective on shares of Salesforce from $280.00 to $300.00 and gave the company a buy rating in a research note on Thursday, November 30th. JMP Securities restated a market outperform rating and issued a $293.00 target price on shares of Salesforce in a research note on Monday, January 22nd. Evercore ISI lifted their target price on shares of Salesforce from $275.00 to $290.00 and gave the company an outperform rating in a report on Thursday, November 30th. Finally, Argus increased their price target on shares of Salesforce from $275.00 to $290.00 and gave the stock a buy rating in a report on Friday, December 1st. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $264.03.

Read Our Latest Stock Report on CRM

Salesforce Stock Performance

NYSE CRM opened at $287.54 on Monday. The company has a fifty day moving average of $269.19 and a two-hundred day moving average of $233.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce has a 1 year low of $159.65 and a 1 year high of $295.24. The company has a market capitalization of $278.34 billion, a PE ratio of 109.33, a P/E/G ratio of 1.87 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Salesforce had a return on equity of 9.19% and a net margin of 7.63%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, analysts expect that Salesforce will post 6.02 earnings per share for the current year.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $292.43, for a total transaction of $4,386,450.00. Following the transaction, the chief executive officer now directly owns 13,521,166 shares of the company’s stock, valued at $3,953,994,573.38. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $292.43, for a total value of $4,386,450.00. Following the sale, the chief executive officer now owns 13,521,166 shares in the company, valued at $3,953,994,573.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,398,178 shares of company stock valued at $370,039,975. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Salesforce

Several large investors have recently bought and sold shares of the company. Graypoint LLC grew its holdings in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC raised its position in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC boosted its stake in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

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.

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Analyst Recommendations for Salesforce (NYSE:CRM)

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