Loop Capital Cuts Salesforce (NYSE:CRM) Price Target to $330.00

Salesforce (NYSE:CRM) had its price target reduced by Loop Capital from $360.00 to $330.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the CRM provider’s stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. Northland Securities reiterated an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday. They set a “buy” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Stock Down 2.8 %

Shares of NYSE CRM opened at $309.54 on Wednesday. The company has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31. 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 business has a 50-day moving average of $333.34 and a two-hundred day moving average of $305.25. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last announced 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. On average, analysts forecast that Salesforce will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the business’s 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 directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,102,833 shares of company stock worth $381,389,136. Insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter worth $25,000. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth $30,000. 80.43% of the stock is currently 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.