Salesforce (NYSE:CRM) Now Covered by Redburn Atlantic

Redburn Atlantic initiated coverage on shares of Salesforce (NYSE:CRM) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating on the CRM provider’s stock.

A number of other analysts have also issued reports on CRM. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets upped their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. UBS Group upped their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $376.84.

Salesforce Stock Down 1.5 %

Shares of NYSE:CRM opened at $324.19 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $310.25 billion, a PE ratio of 53.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31. The firm’s 50-day moving average is $335.02 and its two-hundred day moving average is $304.66. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. Analysts predict that Salesforce will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 14,808 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,117,641 shares of company stock worth $386,408,308. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Salesforce

Several large investors have recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Company Profile

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.