Analysts Rate Salesforce as “Strong Buy” with Consensus Rating

Analysts raise targets on Salesforce's stock

Salesforce, Inc. (CRM:NYE) is currently covered by 43 analysts, with a consensus rating of “Strong Buy,” according to Stock Target Advisor. The average 12-month price target for the CRM stock among brokers who have issued ratings in the last year is $200.54.

 

CRM Stock-Analyst Ratings:

Several research firms have recently issued their opinions on CRM. Bank of America increased its target price on Salesforce from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd.

Northland Securities lifted its price target on Salesforce from $150.00 to $181.00 and gave the stock a “market perform” rating on the same day.

Sanford C. Bernstein downgraded Salesforce from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $134.00 to $119.00 in a report on Wednesday, January 11th.

Deutsche Bank Aktiengesellschaft raised its price target on Salesforce from $190.00 to $240.00 and gave the CRM stock a “buy” rating in a research report on Thursday, March 2nd.

Finally, Mizuho raised its price target on Salesforce from $200.00 to $225.00 and gave the stock a “buy” rating on Thursday, March 2nd.

CRM Ratings by Stock Target Advisor

CRM Stock Price Analysis:

On Friday, Salesforce opened at $194.02 on the NYSE, with a 50-day moving average price of $180.00 and a 200-day moving average price of $158.57. The firm currently has a market cap of $194.02 billion, a P/E ratio of 923.95, a PEG ratio of 2.34, and a beta of 1.24.

The stock’s 52-week low is $126.34 and its 52-week high is $200.00. The company has a quick ratio of 1.02, a current ratio of 1.02, and a debt-to-equity ratio of 0.16.

CRM Ratings by Stock Target Advisor

Quarterly Earnings Review:

Salesforce last released its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share for the quarter, surpassing analysts’ consensus estimates of $1.36 by $0.32. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $7.99 billion.

Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. Sell-side analysts predict that Salesforce will post earnings per share of 4.89 for the current fiscal year.

 

CRM Stock Repurchasing:

On Wednesday, March 1st, Salesforce announced that its board has approved a stock repurchase plan that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to purchase up to 10.9% of its shares through open market purchases. Share repurchase plans are generally considered a sign that a company’s management believes CRM stock is undervalued.

 

Insider Transactions:

Insiders have sold 50,859 shares of Salesforce stock, valued at $9,191,477, in the last 90 days. This represents 3.60% of the company’s stock that is owned by corporate insiders.

 

Hedge Funds & Institutional Holdings:

Recently, several large investors have made changes to their positions in Salesforce. Financial Management Professionals Inc. increased their stake in the company by 365.2% during the fourth quarter, now owning 214 shares valued at $28,000 after purchasing an additional 168 shares in the last quarter.

Capital Directions Investment Advisors LLC also bought a new stake in Salesforce during the fourth quarter worth about $28,000. Meanwhile, Investors Asset Management of Georgia Inc. GA ADV increased their holdings by 506.1% in the third quarter, now owning 200 shares worth $29,000 after acquiring 167 shares in the last quarter.

GHP Investment Advisors Inc. increased their holdings by 113.4% in the third quarter, now owning 207 shares worth $30,000 after acquiring 110 shares in the last quarter.

Lastly, MinichMacGregor Wealth Management LLC bought a new stake in Salesforce during the fourth quarter worth about $31,000. Hedge funds and other institutional investors now own 75.83% of the CRM stock.

 

Company Profile:

Salesforce, Inc. provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.

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