Salesforce (NYSE:CRM) had its price target raised to $330.00 by analysts at Morgan Stanley

Salesforce (NYSE:CRM ​​- Free Report) had their price objective raised by Morgan Stanley from $320.00 to $330.00 in a report on Thursday, Benzinga reports. They currently have an overweight rating on the CRM provider’s stock.

Several other equities research analysts also recently commented on CRM. Raymond James boosted their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a strong-buy rating in a research note on Thursday. TD Cowen reduced their price objective on shares of Salesforce from $330.00 to $285.00 and set a hold rating for the company in a research report on Thursday, May 30th. Piper Sandler restated a neutral rating and set a $250.00 target price on shares of Salesforce in a report on Friday, July 12th. JMP Securities restated a market outperform rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday. Finally, Mizuho decreased their price objective on Salesforce from $345.00 to $300.00 and set a buy rating on the stock in a report on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $301.91.

Read our latest analysis of Salesforce

Salesforce stock down 0.8%

NYSE:CRM ​​opened at $256.91 on Thursday. The stock’s fifty-day simple moving average is $253.98, and its 200-day simple moving average is $271.54. The firm has a market cap of $248.95 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11, and a debt-to-equity ratio of 0.14. Salesforce has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM ​​- Get Your Free Report ) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.19. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s revenue was up 8.5% over the same quarter last year. In the same quarter last year, the company earned $1.63 per share. equities research analysts expect that Salesforce will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents an annualized dividend of $1.60 and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider activity at Salesforce

In other Salesforce news, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average cost of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the transaction, the director now owns 3,914,309 shares in the company, valued at $912,699,429.53. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the sale, the chief executive officer now directly owns 12,362,327 shares of the company’s stock, valued at approximately $2,913,924,097.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, Director G Mason Morfit purchased 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. Disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 112,964 shares of company stock worth $27,956,647. Insiders own 3.20% of the company’s shares.

Hedge funds influence Salesforce

Several large investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter valued at about $33,000. Souders Financial Advisors grew its position in Salesforce by 435.0% in the second quarter. Souders Financial Advisors now owns 4,018 shares of the CRM provider’s stock valued at $1,033,000 after acquiring an additional 3,267 shares during the period. Clearbridge Investments LLC boosted its holdings in Salesforce by 9.3% during the 2nd quarter. Clearbridge Investments LLC now owns 3,428,934 shares of the CRM provider’s stock worth $881,579,000 after buying an additional 292,912 shares in the the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Salesforce in the second quarter valued at about $336,000. Finally, KPP Advisory Services LLC boosted its stake in Salesforce by 7.6% during the second quarter. KPP Advisory Services LLC now owns 6,921 shares of the CRM provider’s stock worth $1,779,000 after buying an additional 487 shares in the last quarter. Institutional investors own 80.43% of the company’s shares.

Salesforce Company Profile

(Get a free report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.

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