Salesforce, Inc. (NYSE:CRM) Receives $310.61 Average Price Target from Analysts

Salesforce, Inc. (NYSE:CRM) has been given a consensus rating of “Moderate Buy” by the thirty-three research firms that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $310.61.

A number of analysts recently weighed in on the stock. KeyCorp initiated coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. BMO Capital Markets lifted their price target on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Argus upped their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Bank of America boosted their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The disclosure for this sale can be found here. Insiders sold a total of 610,793 shares of company stock worth $179,197,018 in the last quarter. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the company. Naples Global Advisors LLC lifted its stake in Salesforce by 16.5% during the 3rd quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock valued at $519,000 after acquiring an additional 363 shares during the period. Traynor Capital Management Inc. boosted its holdings in Salesforce by 8.8% in the third quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 105 shares during the last quarter. Capital Investment Advisors LLC grew its position in Salesforce by 15.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock worth $1,335,000 after purchasing an additional 864 shares during the period. Montecito Bank & Trust bought a new position in shares of Salesforce during the 3rd quarter valued at $248,000. Finally, Impact Partnership Wealth LLC boosted its stake in shares of Salesforce by 226.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock worth $65,000 after buying an additional 222 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.6 %

NYSE CRM opened at $275.86 on Tuesday. The business’s fifty day moving average is $295.69 and its 200-day moving average is $265.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $267.58 billion, a price-to-earnings ratio of 65.68, a PEG ratio of 2.11 and a beta of 1.28. Salesforce has a one year low of $190.76 and a one year high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. Salesforce’s revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Salesforce will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

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.