Salesforce (NYSE:CRM) Stock Rating Reaffirmed by Loop Capital

Salesforce (NYSE:CRM)‘s stock had its “hold” rating restated by investment analysts at Loop Capital in a report issued on Thursday, Benzinga reports. They presently have a $270.00 price objective on the CRM provider’s stock. Loop Capital’s target price indicates a potential upside of 1.29% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. UBS Group boosted their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Finally, Oppenheimer upped their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

Salesforce Stock Up 0.2 %

Salesforce stock opened at $266.57 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day moving average is $254.14 and its 200-day moving average is $266.67. The firm has a market capitalization of $258.31 billion, a PE ratio of 47.94, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce will post 7.55 earnings per share for the current year.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 5,600 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,193,087.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the transaction, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Parker Harris sold 5,600 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at approximately $29,193,087.81. The disclosure for this sale can be found here. Insiders sold 66,576 shares of company stock worth $16,957,573 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fox Hill Wealth Management lifted its stake in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares in the last quarter. Glassman Wealth Services boosted its stake in Salesforce by 2.9% during the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 shares in the last quarter. Blue Barn Wealth LLC grew its holdings in Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after purchasing an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC increased its stake in Salesforce by 0.8% in the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after purchasing an additional 39 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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.