Analysts’ Weekly Ratings Updates for Salesforce (CRM)

Several analysts have recently updated their ratings and price targets for Salesforce (NYSE: CRM):

• 9/20/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
• 9/19/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $300.00 price target on the stock.
• 9/19/2024 – Salesforce had its “hold” rating reaffirmed by analysts at Loop Capital. They now have a $270.00 price target on the stock.
• 9/19/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $315.00 price target on the stock, up previously from $300.00.
• 9/11/2024 – Salesforce had its “hold” rating reaffirmed by analysts at Erste Group Bank AG.
• 9/6/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $325.00 price target on the stock.
• 9/6/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
• 8/30/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $300.00 price target on the stock.
• 8/30/2024 – Salesforce had its “accumulate” rating reaffirmed by analysts at Phillip Securities. They now have a $305.00 price target on the stock.
• 8/29/2024 – Salesforce was upgraded by analysts at FBN Securities to a “strong-buy” rating.
• 8/29/2024 – Salesforce was upgraded by analysts at BNP Paribas to a “strong-buy” rating.
• 8/29/2024 – Salesforce had its price target raised by analysts at Raymond James from $325.00 to $350.00. They now have a “strong-buy” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at JPMorgan Chase & Co. from $300.00 to $310.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Morgan Stanley from $320.00 to $330.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $315.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Sanford C. Bernstein from $234.00 to $236.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $300.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Oppenheimer Holdings Inc. from $280.00 to $300.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Robert W. Baird from $295.00 to $315.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at BMO Capital Markets from $265.00 to $305.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at DA Davidson from $230.00 to $250.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Piper Sandler from $250.00 to $268.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at UBS Group AG from $250.00 to $275.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at TD Cowen from $285.00 to $290.00. They now have a “hold” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Loop Capital from $240.00 to $270.00. They now have a “hold” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Wells Fargo & Company from $250.00 to $275.00. They now have an “equal weight” rating on the stock.
• 8/29/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $335.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Stifel Nicolaus from $300.00 to $320.00. They now have a “buy” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Canaccord Genuity Group Inc. from $300.00 to $315.00. They now have a “buy” rating on the stock.
• 8/29/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Bank of America Co. from $316.00 to $325.00. They now have a “buy” rating on the stock.
• 8/28/2024 – Salesforce had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $342.00 price target on the stock.
• 8/26/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $300.00 price target on the stock.
• 8/26/2024 – Salesforce had its price target raised by analysts at Citigroup Inc. from $260.00 to $290.00. They now have a “neutral” rating on the stock.
• 8/16/2024 – Salesforce had its price target raised by analysts at Bank of America Co. from $288.00 to $316.00. They now have a “buy” rating on the stock.

Salesforce Stock Performance

Shares of NYSE CRM traded down $2.59 during midday trading on Monday, reaching $264.21. The company had a trading volume of 6,032,266 shares, compared to its average volume of 6,573,043. The business’s 50-day simple moving average is $254.14 and its 200 day simple moving average is $266.18. The stock has a market cap of $256.02 billion, a P/E ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,891 shares of company stock worth $16,306,944. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Spartan Planning & Wealth Management grew its position in Salesforce by 66.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after acquiring an additional 625 shares during the period. Parnassus Investments LLC boosted its position in shares of Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after buying an additional 18,397 shares during the period. TD Asset Management Inc boosted its position in shares of Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after buying an additional 194,224 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Salesforce by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after buying an additional 95 shares during the period. Finally, XN LP boosted its position in shares of Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after buying an additional 90,616 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.