Salesforce (NYSE:CRM) Stock Price Up 1.8% – What’s Next?

Salesforce Inc. (NYSE:CRM)’s share price was up 1.8% on Monday . The stock traded as high as $175.39 and last traded at $173.8170. Approximately 12,221,944 shares traded hands during trading, a decline of 12% from the average daily volume of 13,858,134 shares. The stock had previously closed at $170.77.

Analysts Set New Price Targets

Several brokerages have commented on CRM. Roth Capital reaffirmed a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research note on Thursday, May 28th. Citizens Jmp reissued a “market outperform” rating and set a $315.00 price target on shares of Salesforce in a research report on Thursday, May 28th. B. Riley Financial boosted their price target on shares of Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Sanford C. Bernstein lowered their price objective on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Salesforce from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $252.13.

Salesforce Trading Up 1.8%

The business has a 50 day moving average of $170.64 and a 200-day moving average of $190.67. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $142.36 billion, a P/E ratio of 20.12, a PEG ratio of 0.92 and a beta of 1.18.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same period last year, the company posted $2.58 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Analysts anticipate that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC grew its position in Salesforce by 1.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider’s stock worth $1,147,000 after purchasing an additional 43 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Salesforce by 0.3% during the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock valued at $3,548,000 after buying an additional 45 shares during the period. Pine Haven Investment Counsel Inc boosted its stake in shares of Salesforce by 1.5% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider’s stock worth $835,000 after buying an additional 46 shares during the last quarter. Richards Merrill & Peterson Inc. boosted its stake in shares of Salesforce by 1.1% in the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock worth $1,123,000 after buying an additional 46 shares during the last quarter. Finally, Wright Investors Service Inc. grew its holdings in shares of Salesforce by 0.8% in the fourth quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider’s stock worth $1,639,000 after acquiring an additional 47 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

About Salesforce

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.