Salesforce (NYSE:CRM) Earns “Outperform” Rating from Wolfe Research

Salesforce (NYSE:CRM)‘s stock had its “outperform” rating reissued by research analysts at Wolfe Research in a report issued on Tuesday, Benzinga reports. They presently have a $365.00 price objective on the CRM provider’s stock. Wolfe Research’s price objective suggests a potential upside of 32.09% from the company’s current price.

CRM has been the topic of several other reports. Mizuho restated a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Robert W. Baird upped their price objective on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. UBS Group upped their price objective on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. JMP Securities restated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Monday. Finally, Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

Salesforce Stock Down 0.4 %

Salesforce stock opened at $276.33 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $268.04 billion, a price-to-earnings ratio of 65.79, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. Salesforce has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The stock’s fifty day moving average is $298.10 and its two-hundred day moving average is $260.89.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Analysts predict that Salesforce will post 7.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now owns 45,231 shares in the company, valued at $12,428,121.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now owns 45,231 shares in the company, valued at $12,428,121.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 907,149 shares of company stock worth $262,952,448. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the business. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Aspect Partners LLC bought a new position in Salesforce during the 4th quarter worth approximately $29,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the 4th quarter worth approximately $31,000. Finally, Main Street Group LTD bought a new position in Salesforce during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% 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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.