Salesforce, Inc. (NYSE:CRM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Salesforce, Inc. (NYSE:CRM) have earned a consensus rating of “Moderate Buy” from the forty-one ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and four have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $365.62.

Several brokerages recently weighed in on CRM. Piper Sandler dropped their price target on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th.

Insiders Place Their Bets

In related news, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. The trade was a 0.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,793 shares of company stock worth $383,156,227. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 4.8 %

Shares of NYSE:CRM opened at $270.94 on Friday. 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 business’s 50 day simple moving average is $319.09 and its two-hundred day simple moving average is $308.60. Salesforce has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $260.37 billion, a P/E ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35.

About Salesforce

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.