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 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.
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.
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.
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.