Salesforce (NYSE:CRM) Price Target Lowered to $400.00 at Robert W. Baird

Salesforce (NYSE:CRM) had its target price lowered by equities research analysts at Robert W. Baird from $430.00 to $400.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the CRM provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 35.59% from the company’s current price.

A number of other brokerages have also recently weighed in on CRM. Stifel Nicolaus raised their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler reduced their price target on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Finally, Macquarie restated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.84.

Salesforce Stock Down 3.6 %

CRM stock opened at $295.01 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $282.32 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 2.58 and a beta of 1.31. Salesforce has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a fifty day moving average of $330.86 and a 200-day moving average of $306.97.

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

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,102,572 shares of company stock worth $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its stake in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC boosted its position in 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 position in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd boosted its position in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors 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.