Salesforce, Inc. (NYSE:CRM) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Salesforce, Inc. (NYSE:CRM – Get Free Report) has received an average rating of “Moderate Buy” from the thirty-three ratings firms that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $304.32.

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Thursday. StockNews.com upgraded shares of Salesforce from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Finally, Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $290.00 to $350.00 in a research report on Thursday, December 21st.

Read Our Latest Report on Salesforce

Salesforce Price Performance

Salesforce stock opened at $305.41 on Monday. Salesforce has a 12 month low of $170.00 and a 12 month high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $283.46 and its 200 day simple moving average is $243.89. The company has a market cap of $295.64 billion, a price-to-earnings ratio of 72.72, a PEG ratio of 2.34 and a beta of 1.28.

Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating 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 business 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. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts forecast that Salesforce will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s payout ratio is presently 9.52%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $255.61, for a total value of $2,556,100.00. Following the completion of the sale, the chief financial officer now owns 37,048 shares of the company’s stock, valued at approximately $9,469,839.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 10,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $255.61, for a total transaction of $2,556,100.00. Following the sale, the chief financial officer now directly owns 37,048 shares in the company, valued at $9,469,839.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,169,112 shares of company stock valued at $321,749,192. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Salesforce

A number of hedge funds have recently added to or reduced their stakes in CRM. Norges Bank purchased a new position in Salesforce during the fourth quarter valued at $1,420,381,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after buying an additional 10,252,257 shares in the last quarter. Capital International Investors lifted its stake in shares of Salesforce by 1,151.2% in the second quarter. Capital International Investors now owns 7,117,212 shares of the CRM provider’s stock worth $1,503,547,000 after buying an additional 6,548,396 shares in the last quarter. Capital World Investors lifted its stake in shares of Salesforce by 30.2% in the second quarter. Capital World Investors now owns 19,242,436 shares of the CRM provider’s stock worth $4,065,157,000 after buying an additional 4,458,227 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares in the last quarter. 77.52% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile

(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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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