CRM

Salesforce, Inc. (NYSE:CRM) Receives Average Rating of “Moderate Buy” from Analysts

May 18, 2024

67 4 minutes read

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Shares of Salesforce, Inc. (NYSE:CRM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the thirty-three analysts that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $310.61.

CRM has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $350.00 price target on shares of Salesforce in a research report on Wednesday, April 3rd. BMO Capital Markets increased their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Robert W. Baird upped their target price on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Oppenheimer raised their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th.

Check Out Our Latest Research Report on Salesforce

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at $11,903,561.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 635,499 shares of company stock worth $184,795,784 in the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Salesforce during the 4th quarter worth approximately $2,762,331,000. Capital International Investors grew its stake in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the period. Cerity Partners LLC raised its stake in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares during the period. Capital Research Global Investors boosted its position in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. Finally, GQG Partners LLC purchased a new stake in shares of Salesforce in the first quarter worth about $910,220,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.3 %

Shares of NYSE:CRM opened at $285.61 on Friday. The firm has a 50 day simple moving average of $289.14 and a 200-day simple moving average of $271.54. Salesforce has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $276.47 billion, a PE ratio of 68.00, a P/E/G ratio of 2.21 and a beta of 1.30.

Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. On average, equities analysts predict that Salesforce will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is presently 9.52%.

About Salesforce

(Get Free Report

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.