Salesforce (NYSE:CRM) Price Target Cut to $252.00 by Analysts at Barclays

Salesforce (NYSE:CRMFree Report) had its price objective lowered by Barclays from $265.00 to $252.00 in a research note published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the CRM provider’s stock.

CRM has been the subject of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Salesforce in a research note on Thursday, December 4th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Salesforce in a research note on Thursday, December 4th. Truist Financial decreased their price objective on shares of Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a report on Thursday, December 4th. Piper Sandler restated an “overweight” rating and set a $250.00 target price (down from $280.00) on shares of Salesforce in a report on Thursday. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $284.06.

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Salesforce Stock Performance

Shares of NYSE CRM opened at $199.38 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. Salesforce has a one year low of $174.57 and a one year high of $304.92. The business’s 50-day moving average price is $225.28 and its two-hundred day moving average price is $238.59. The company has a market capitalization of $186.82 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.76. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $11.18 billion. Salesforce had a return on equity of 15.28% and a net margin of 17.96%.The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $2.78 EPS. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Analysts anticipate that Salesforce will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th will be paid a $0.44 dividend. The ex-dividend date is Thursday, April 9th. This is a positive change from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce’s dividend payout ratio is 22.16%.

Insider Activity at Salesforce

In other news, Director Neelie Kroes sold 3,893 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total transaction of $929,259.10. Following the transaction, the director owned 7,299 shares in the company, valued at approximately $1,742,271.30. The trade was a 34.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 134,662 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the sale, the insider owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.00% of the stock is owned by company insiders.

Institutional Trading of Salesforce

Hedge funds have recently modified their holdings of the company. Commonwealth Retirement Investments LLC acquired a new stake in Salesforce during the fourth quarter worth $25,000. Marquette Asset Management LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $26,000. Board of the Pension Protection Fund bought a new position in shares of Salesforce during the 4th quarter worth about $26,000. Key Capital Management INC acquired a new stake in shares of Salesforce during the 4th quarter valued at about $26,000. Finally, Gilpin Wealth Management LLC bought a new stake in Salesforce in the fourth quarter valued at about $26,000. Institutional investors own 80.43% of the company’s stock.

Key Salesforce News

Here are the key news stories impacting Salesforce this week:

About Salesforce

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Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

Further Reading

Analyst Recommendations for Salesforce (NYSE:CRM)

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