DA Davidson Equities Analysts Decrease Earnings Estimates for Salesforce, Inc. (NYSE:CRM)
Salesforce, Inc. (NYSE:CRM – Free Report) – Equities researchers at DA Davidson lowered their FY2026 earnings per share (EPS) estimates for shares of Salesforce in a research report issued on Thursday, June 6th. DA Davidson analyst G. Luria now expects that the CRM provider will post earnings of $8.71 per share for the year, down from their prior forecast of $8.85. DA Davidson has a “Neutral” rating and a $230.00 price target on the stock. The consensus estimate for Salesforce’s current full-year earnings is $7.47 per share.
CRM has been the topic of a number of other reports. Mizuho decreased their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Argus lifted their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Wedbush decreased their price target on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. JPMorgan Chase & Co. decreased their price target on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Oppenheimer decreased their price target on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.79.
View Our Latest Stock Analysis on Salesforce
Salesforce Stock Performance
NYSE:CRM opened at $241.85 on Monday. The business has a 50 day moving average of $275.34 and a 200 day moving average of $276.90. The company has a market capitalization of $234.35 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 2.12 and a beta of 1.26. Salesforce has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.
Insiders Place Their Bets
In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the transaction, the chief executive officer now directly owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the transaction, the chief executive officer now directly owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Mason Morfit acquired 428,000 shares of Salesforce stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the transaction, the director now owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 625,870 shares of company stock valued at $177,970,848. 3.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Salesforce
A number of hedge funds have recently bought and sold shares of the company. Objective Capital Management LLC increased its position in Salesforce by 10.7% during the first quarter. Objective Capital Management LLC now owns 1,035 shares of the CRM provider’s stock valued at $312,000 after acquiring an additional 100 shares during the last quarter. Maxwell Wealth Strategies Inc. increased its position in Salesforce by 569.1% in the first quarter. Maxwell Wealth Strategies Inc. now owns 9,448 shares of the CRM provider’s stock worth $2,846,000 after buying an additional 8,036 shares in the last quarter. Motiv8 Investments LLC increased its position in Salesforce by 20.1% in the first quarter. Motiv8 Investments LLC now owns 2,448 shares of the CRM provider’s stock worth $737,000 after buying an additional 409 shares in the last quarter. Cetera Advisor Networks LLC increased its position in Salesforce by 7.1% in the first quarter. Cetera Advisor Networks LLC now owns 132,020 shares of the CRM provider’s stock worth $39,762,000 after buying an additional 8,730 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in Salesforce by 27.1% in the first quarter. Cetera Advisors LLC now owns 131,076 shares of the CRM provider’s stock worth $39,477,000 after buying an additional 27,976 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
About Salesforce
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.
Further Reading
Before you consider Salesforce, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Salesforce wasn’t on the list.
While Salesforce currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in 5G and which 5G stocks show the most promise.
