Redburn Atlantic Initiates Coverage on Salesforce (NYSE:CRM)

Redburn Atlantic started coverage on shares of Salesforce (NYSE:CRM) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating on the CRM provider’s stock.

A number of other equities analysts have also commented on CRM. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. BMO Capital Markets boosted their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus upped their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Salesforce Stock Performance

NYSE CRM opened at $309.54 on Wednesday. The stock has a market cap of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. The company’s 50-day simple moving average is $333.34 and its 200 day simple moving average is $305.25. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, research analysts forecast that Salesforce will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,833 shares of company stock valued at $381,389,136 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC lifted 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 valued at $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.