Salesforce (NYSE:CRM) Price Target Raised to $425.00

Salesforce (NYSE:CRM) had its price target hoisted by Jefferies Financial Group from $400.00 to $425.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the CRM provider’s stock.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday. Roth Mkm reissued a “buy” rating and set a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Piper Sandler increased their price target on shares of Salesforce from $325.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Eight investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.86.

Salesforce Stock Performance

Shares of CRM opened at $361.99 on Wednesday. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average price is $308.26 and its two-hundred day moving average price is $272.43. The firm has a market cap of $346.06 billion, a PE ratio of 59.54, a PEG ratio of 3.00 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.31%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. On average, equities research analysts forecast that Salesforce will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.44%. Salesforce’s payout ratio is currently 26.32%.

Insider Activity

In related news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,982 shares of company stock valued at $41,591,457. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in the stock. U.S. Capital Wealth Advisors LLC lifted its holdings in Salesforce by 1.3% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 7,125 shares of the CRM provider’s stock worth $1,832,000 after buying an additional 94 shares during the period. CRA Financial Services LLC lifted its stake in shares of Salesforce by 28.2% in the 2nd quarter. CRA Financial Services LLC now owns 1,122 shares of the CRM provider’s stock valued at $288,000 after purchasing an additional 247 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Salesforce by 3.3% during the second quarter. Capital Investment Advisors LLC now owns 6,646 shares of the CRM provider’s stock valued at $1,709,000 after purchasing an additional 212 shares in the last quarter. Sax Wealth Advisors LLC grew its stake in Salesforce by 20.9% in the second quarter. Sax Wealth Advisors LLC now owns 937 shares of the CRM provider’s stock worth $241,000 after purchasing an additional 162 shares during the period. Finally, Opal Wealth Advisors LLC raised its holdings in Salesforce by 19.4% in the second quarter. Opal Wealth Advisors LLC now owns 1,214 shares of the CRM provider’s stock worth $312,000 after purchasing an additional 197 shares in the last quarter. 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.