Salesforce (NYSE:CRM) Stock Rating Upgraded by TD Cowen

Salesforce (NYSE:CRM) was upgraded by TD Cowen from a “hold” rating to a “buy” rating in a report issued on Friday,Finviz reports. The firm presently has a $400.00 target price on the CRM provider’s stock, up from their previous target price of $380.00. TD Cowen’s price objective would indicate a potential upside of 24.62% from the stock’s current price.

Several other research firms have also issued reports on CRM. Robert W. Baird upped their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC raised their price target on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Down 0.1 %

Salesforce stock opened at $320.99 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a fifty day simple moving average of $337.05 and a 200 day simple moving average of $290.87. The company has a market cap of $307.18 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its 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). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. Research analysts anticipate that Salesforce will post 7.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock worth $405,595,158 over the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Howard Capital Management Group LLC boosted its position in Salesforce by 0.3% during the 4th quarter. Howard Capital Management Group LLC now owns 115,060 shares of the CRM provider’s stock worth $38,468,000 after buying an additional 315 shares during the period. Roberts Wealth Advisors LLC raised its stake in shares of Salesforce by 0.7% during the fourth quarter. Roberts Wealth Advisors LLC now owns 11,079 shares of the CRM provider’s stock valued at $3,558,000 after acquiring an additional 75 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Salesforce by 24.0% during the fourth quarter. Atomi Financial Group Inc. now owns 14,884 shares of the CRM provider’s stock worth $4,976,000 after purchasing an additional 2,885 shares during the period. Transform Wealth LLC grew its stake in shares of Salesforce by 7.5% in the fourth quarter. Transform Wealth LLC now owns 53,948 shares of the CRM provider’s stock worth $18,058,000 after purchasing an additional 3,783 shares during the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in Salesforce by 0.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 47,633 shares of the CRM provider’s stock valued at $15,925,000 after purchasing an additional 206 shares during the period. 80.43% of the stock is currently 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.