Analysts’ Recent Ratings Updates for Salesforce (CRM)

A number of research firms have changed their ratings and price targets for Salesforce (NYSE: CRM):

  • 5/31/2024 – Salesforce had its price target lowered by analysts at Macquarie from $330.00 to $275.00. They now have an “outperform” rating on the stock.
  • 5/30/2024 – Salesforce had its price target raised by analysts at Sanford C. Bernstein from $231.00 to $234.00. They now have an “underperform” rating on the stock.
  • 5/30/2024 – Salesforce had its “strong-buy” rating reaffirmed by analysts at Raymond James. They now have a $325.00 price target on the stock, down previously from $380.00.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Barclays PLC from $355.00 to $305.00. They now have an “overweight” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at JPMorgan Chase & Co. from $310.00 to $300.00. They now have an “overweight” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Morgan Stanley from $350.00 to $320.00. They now have an “overweight” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Evercore ISI from $330.00 to $300.00. They now have an “outperform” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at BMO Capital Markets from $335.00 to $265.00. They now have an “outperform” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Robert W. Baird from $355.00 to $295.00. They now have an “outperform” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Oppenheimer Holdings Inc. from $325.00 to $280.00. They now have an “outperform” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Citigroup Inc. from $323.00 to $260.00. They now have a “neutral” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at DA Davidson from $300.00 to $230.00. They now have a “neutral” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at UBS Group AG from $310.00 to $250.00. They now have a “neutral” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Piper Sandler from $300.00 to $250.00. They now have a “neutral” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at TD Cowen from $330.00 to $285.00. They now have a “hold” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Wells Fargo & Company from $300.00 to $250.00. They now have an “equal weight” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Jefferies Financial Group Inc. from $360.00 to $350.00. They now have a “buy” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $350.00 to $300.00. They now have a “buy” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Stifel Nicolaus from $350.00 to $300.00. They now have a “buy” rating on the stock.
  • 5/30/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $300.00 price target on the stock, down previously from $360.00.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Mizuho from $345.00 to $300.00. They now have a “buy” rating on the stock.
  • 5/30/2024 – Salesforce had its price target lowered by analysts at Canaccord Genuity Group Inc. from $350.00 to $300.00. They now have a “buy” rating on the stock.
  • 5/30/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
  • 5/29/2024 – Salesforce had its price target lowered by analysts at Wedbush from $325.00 to $315.00. They now have an “outperform” rating on the stock.
  • 5/24/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $350.00 price target on the stock.
  • 5/23/2024 – Salesforce had its price target lowered by analysts at Wells Fargo & Company from $310.00 to $300.00. They now have an “equal weight” rating on the stock.
  • 4/22/2024 – Salesforce had its price target raised by analysts at Jefferies Financial Group Inc. from $350.00 to $360.00. They now have a “buy” rating on the stock.
  • 4/16/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Wolfe Research. They now have a $365.00 price target on the stock.
  • 4/15/2024 – Salesforce had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $300.00 price target on the stock.
  • 4/15/2024 – Salesforce had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $342.00 price target on the stock.
  • 4/15/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
  • 4/12/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $350.00 price target on the stock, up previously from $325.00.

Salesforce Stock Up 0.7 %

CRM stock opened at $236.53 on Thursday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a market cap of $229.20 billion, a price-to-earnings ratio of 42.54, a PEG ratio of 2.06 and a beta of 1.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $277.69 and a two-hundred day moving average of $276.29.

Salesforce (NYSE:CRMGet Free Report) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total value of $1,258,320.00. Following the sale, the insider now owns 104,904 shares of the company’s stock, valued at $31,429,238.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the sale, the insider now owns 104,904 shares in the company, valued at $31,429,238.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $304.97, for a total transaction of $4,574,550.00. Following the transaction, the chief executive officer now owns 13,221,166 shares in the company, valued at $4,032,058,995.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 640,870 shares of company stock valued at $182,545,398. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL increased its position in shares of Salesforce by 1.9% during the third quarter. Gamco Investors INC. ET AL now owns 6,014 shares of the CRM provider’s stock worth $1,220,000 after acquiring an additional 112 shares during the last quarter. ProVise Management Group LLC increased its stake in shares of Salesforce by 1.3% in the third quarter. ProVise Management Group LLC now owns 6,199 shares of the CRM provider’s stock valued at $1,257,000 after purchasing an additional 80 shares during the period. AMG National Trust Bank grew its stake in shares of Salesforce by 50.5% in the third quarter. AMG National Trust Bank now owns 7,447 shares of the CRM provider’s stock worth $1,510,000 after purchasing an additional 2,500 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in Salesforce by 32.7% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 8,524 shares of the CRM provider’s stock valued at $1,728,000 after buying an additional 2,100 shares during the period. Finally, Pathstone Family Office LLC boosted its stake in Salesforce by 51.4% during the 3rd quarter. Pathstone Family Office LLC now owns 66,260 shares of the CRM provider’s stock valued at $13,414,000 after purchasing an additional 22,485 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.

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