JMP Securities Reaffirms “Market Outperform” Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $450.00 target price on the CRM provider’s stock. JMP Securities’ target price suggests a potential upside of 28.62% from the stock’s current price.

A number of other equities analysts have also weighed in on CRM. BMO Capital Markets upped their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $375.00 price target on shares of Salesforce in a report on Wednesday. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial restated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce Trading Down 0.2 %

NYSE CRM opened at $349.86 on Wednesday. The stock has a market capitalization of $334.82 billion, a price-to-earnings ratio of 58.21, a PEG ratio of 3.21 and a beta of 1.30. The business’s fifty day moving average is $320.12 and its 200-day moving average is $277.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the business posted $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce will post 7.48 EPS for the current year.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 5,735 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70. Following the sale, the chief operating officer now directly owns 1,663 shares of the company’s stock, valued at approximately $442,723.86. This trade represents a 77.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,298 shares of company stock valued at $39,903,781. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Salesforce

A number of institutional investors have recently modified their holdings of CRM. Aviance Capital Partners LLC boosted its holdings in Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after acquiring an additional 33 shares during the period. EWA LLC boosted its stake in shares of Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares during the period. Umpqua Bank grew its holdings in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC lifted its holdings in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after buying an additional 34 shares in the last quarter. Finally, Nvwm LLC grew its stake in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.