Salesforce Inc. (NYSE:CRM) Receives $327.74 Consensus PT from Analysts

Shares of Salesforce Inc. (NYSE:CRMGet Free Report) have received a consensus rating of “Moderate Buy” from the forty-four analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, twenty-nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $326.50.

CRM has been the subject of a number of recent research reports. UBS Group reiterated a “neutral” rating and set a $260.00 price objective on shares of Salesforce in a research note on Thursday, December 4th. Oppenheimer decreased their price objective on shares of Salesforce from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, December 1st. The Goldman Sachs Group started coverage on shares of Salesforce in a report on Monday. They issued a “buy” rating and a $330.00 target price for the company. Truist Financial decreased their price target on Salesforce from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Thursday, December 4th. Finally, Wall Street Zen raised Salesforce from a “hold” rating to a “buy” rating in a research note on Friday, November 28th.

Read Our Latest Report on Salesforce

Salesforce News Summary

Here are the key news stories impacting Salesforce this week:

Salesforce Trading Down 0.7%

Shares of Salesforce stock opened at $239.47 on Thursday. Salesforce has a 1-year low of $221.96 and a 1-year high of $367.09. The company’s fifty day simple moving average is $249.74 and its 200-day simple moving average is $251.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $224.38 billion, a PE ratio of 31.97, a P/E/G ratio of 1.80 and a beta of 1.26.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same period last year, the firm earned $2.41 EPS. Salesforce’s revenue for the quarter was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities analysts anticipate that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were paid a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, December 18th. Salesforce’s dividend payout ratio is presently 22.16%.

Insider Activity at Salesforce

In related news, Director David Blair Kirk bought 1,936 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was bought at an average cost of $258.64 per share, with a total value of $500,727.04. Following the completion of the purchase, the director owned 10,677 shares of the company’s stock, valued at approximately $2,761,499.28. The trade was a 22.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit purchased 96,000 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was bought at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the purchase, the director owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. This represents a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 150,534 shares of company stock valued at $35,636,954. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently made changes to their positions in the company. Painted Porch Advisors LLC raised its holdings in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 65 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Salesforce in the fourth quarter worth $26,000. Evolution Wealth Management Inc. bought a new stake in Salesforce in the second quarter worth $27,000. Marquette Asset Management LLC purchased a new stake in Salesforce during the third quarter valued at $26,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

About Salesforce

(Get Free Report)

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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