Barclays Increases Salesforce (NYSE:CRM) Price Target to $425.00

Salesforce (NYSE:CRM) had its target price lifted by equities research analysts at Barclays from $415.00 to $425.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the CRM provider’s stock. Barclays‘s target price would indicate a potential upside of 28.10% from the stock’s previous close.

CRM has been the subject of a number of other reports. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Tuesday. Truist Financial lifted their price objective on Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets lifted their price target on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $359.74.

Salesforce Stock Up 0.2 %

CRM stock opened at $331.77 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $317.17 billion, a PE ratio of 57.70, a PEG ratio of 3.00 and a beta of 1.30. Salesforce has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a fifty day simple moving average of $304.68 and a 200 day simple moving average of $271.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the company posted $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce will post 7.54 EPS for the current fiscal year.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,982 shares of company stock worth $41,591,457. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC boosted its holdings in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares in the last quarter. AIA Group Ltd increased its stake in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares during the period. Transamerica Financial Advisors Inc. acquired a new stake in Salesforce during the 3rd quarter worth approximately $3,672,000. Finally, Harvest Portfolios Group Inc. increased its position in Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after acquiring an additional 10,656 shares during the period. 80.43% of the stock is owned by institutional investors.

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.