Loop Capital increases its price target on Salesforce (NYSE:CRM) to $270.00

Salesforce (NYSE:CRM ​​- Get a Free Report) The target price was lifted by stock analysts at Loop Capital from $240.00 to $270.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the CRM provider’s stock. Loop Capital’s price objective would indicate a potential upside of 4.25% from the company’s previous close.

Other equities research analysts have recently issued reports on the company. Jefferies Financial Group cut their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Citigroup upped their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday. JMP Securities restated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday. Finally, Stifel Nicolaus cut their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Moderate Buy” and a consensus price target of $297.06, according to MarketBeat.

Read our latest research report on Salesforce

Salesforce trading down 2.0%

NYSE:CRM ​​opened at $258.99 on Thursday. The company has a 50-day moving average price of $253.44 and a 200-day moving average price of $271.63. The stock has a market cap of $250.96 billion, a price-to-earnings ratio of 46.58, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a current ratio of 1.11, a quick 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 quarterly earnings data on Wednesday, August 28th. The CRM provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.73 by $0.19. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted earnings per share of $1.63. equities analysts predict that Salesforce will post 7.47 EPS for the current year.

Indoor activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 112,964 shares of company stock worth $27,956,647 over the last 90 days. Company insiders own 3.20% of the company’s shares.

Institutional investors are weighing in on Salesforce

Institutional investors have recently bought and sold shares of the business. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at about $26,000. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Finally, Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter valued at about $33,000. Hedge funds and other 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.

Further reading

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