Salesforce (NYSE:CRM) Price Target Raised to $325.00 at Wedbush

Salesforce (NYSE:CRM) had its price objective upped by Wedbush from $315.00 to $325.00 in a research note released on Friday, Benzinga reports. The firm currently has an outperform rating on the CRM provider’s stock.

Other equities analysts have also issued research reports about the company. Roth Mkm reiterated a buy rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Citigroup increased their price objective on Salesforce from $260.00 to $290.00 and gave the stock a neutral rating in a research report on Monday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an overweight rating in a research report on Thursday, August 29th. Macquarie decreased their price target on shares of Salesforce from $330.00 to $275.00 and set an outperform rating on the stock in a research note on Friday, May 31st. Finally, DA Davidson lifted their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a neutral rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $308.03.

Salesforce Trading Up 0.3 %

CRM stock opened at $276.64 on Friday. Salesforce has a one year low of $193.68 and a one year high of $318.71. The stock has a market cap of $268.06 billion, a price-to-earnings ratio of 49.76, a price-to-earnings-growth ratio of 2.39 and a beta of 1.29. The company has a fifty day moving average price of $256.26 and a two-hundred day moving average price of $265.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. Equities analysts anticipate that Salesforce will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,901,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at approximately $29,901,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,185 shares of company stock worth $18,708,571. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently made changes to their positions in the stock. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the first quarter worth approximately $33,000. Finally, Stephens Consulting LLC lifted its stake in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. 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.