Salesforce, Inc. (NYSE:CRM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Salesforce, Inc. (NYSE:CRM) has earned an average rating of “Moderate Buy” from the thirty-eight ratings firms that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and four have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $310.74.

A number of research firms have recently issued reports on CRM. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Sanford C. Bernstein raised their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. TD Cowen raised their price objective on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, UBS Group upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th.

Salesforce Price Performance

CRM opened at $291.77 on Tuesday. Salesforce has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a 50-day moving average price of $262.99 and a 200-day moving average price of $263.55. The firm has a market cap of $282.73 billion, a PE ratio of 52.48, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Sell-side analysts predict that Salesforce will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,155 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $5,257,813.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 1,155 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now owns 20,556 shares in the company, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,412 shares of company stock worth $20,212,507 in the last quarter. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its stake in Salesforce by 101.0% in the fourth quarter. Quarry LP now owns 193 shares of the CRM provider’s stock worth $51,000 after buying an additional 97 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of Salesforce in the 4th quarter worth $35,000. ICA Group Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth $267,000. Kapitalo Investimentos Ltda bought a new stake in Salesforce during the fourth quarter valued at about $51,000. Finally, Trust Co. of Toledo NA OH grew its stake in Salesforce by 4.3% in the first quarter. Trust Co. of Toledo NA OH now owns 14,309 shares of the CRM provider’s stock valued at $4,310,000 after purchasing an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.