Guggenheim Downgrades Salesforce (NYSE:CRM) to Sell

Salesforce (NYSE:CRM) was downgraded by Guggenheim from a “neutral” rating to a “sell” rating in a research report issued on Monday,Finviz reports. They currently have a $247.00 price objective on the CRM provider’s stock. Guggenheim’s target price suggests a potential downside of 25.80% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Scotiabank raised their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. DA Davidson boosted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Canaccord Genuity Group raised their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup upped their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $375.39.

Salesforce Trading Up 0.7 %

NYSE CRM opened at $332.90 on Monday. Salesforce has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $318.59 billion, a price-to-earnings ratio of 54.75, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company’s 50-day simple moving average is $332.81 and its two-hundred day simple moving average is $286.81.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. Equities analysts forecast that Salesforce will post 7.48 EPS for the current fiscal year.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,186,017 shares of company stock valued at $405,971,793 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter valued at approximately $27,000. Clear Investment Research LLC boosted its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the second quarter worth $33,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.