Salesforce (NYSE:CRM) Stock Rating Reaffirmed by Roth Mkm

Salesforce (NYSE:CRM)‘s stock had its “buy” rating restated by equities research analysts at Roth Mkm in a research report issued on Thursday, Benzinga reports. They currently have a $335.00 price target on the CRM provider’s stock. Roth Mkm’s price target suggests a potential upside of 32.46% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. BMO Capital Markets raised their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen lowered their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Mizuho reduced their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, Loop Capital upped their price target on shares of Salesforce from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.00.

Salesforce Stock Down 1.6 %

CRM stock opened at $252.90 on Thursday. The stock’s 50 day simple moving average is $254.28 and its 200 day simple moving average is $271.44. The company has a market cap of $245.06 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. On average, research analysts expect that Salesforce will post 7.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $30,912,044.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $30,912,044.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director G Mason Morfit purchased 428,000 shares of Salesforce stock in a transaction dated Monday, June 3rd. The stock was acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the acquisition, the director now owns 3,914,309 shares in the company, valued at approximately $912,699,429.53. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 112,964 shares of company stock worth $27,956,647. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the fourth quarter worth about $26,000. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce during the 1st quarter valued at about $33,000. Finally, Clear Investment Research LLC increased its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.