Salesforce (NYSE:CRM) PT raised to $290.00

Salesforce (NYSE:CRM ​​- Free Report) Its price objective was boosted by TD Cowen from $285.00 to $290.00 in a research report on Thursday morning, Benzinga reports. They currently have a hold rating on the CRM vendor stock.

A number of other research analysts have also weighed in on the company. Mizuho decreased their price objective on Salesforce from $345.00 to $300.00 and set a buy rating for the company in a research report on Thursday, May 30th. Raymond James boosted their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a strong-buy rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an outperform rating in a report on Thursday. Jefferies Financial Group cut their price target on shares of Salesforce from $360.00 to $350.00 and set a buy rating on the stock in a report on Thursday, May 30th. Finally, Citigroup boosted their price target on Salesforce from $260.00 to $290.00 and gave the company a neutral rating in a research note on Monday. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Moderate Buy and an average target price of $301.91, according to MarketBeat.com.

View our latest analysis of Salesforce

Salesforce Price Performance

CRM opened at $256.91 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11, and a debt-to-equity ratio of 0.14. The company has a market cap of $248.95 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The stock has a fifty day simple moving average of $253.98 and a two hundred day simple moving average of $271.54. 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 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 company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce revenue rose 8.5% year-over-year. In the same period last year, the company posted EPS of $1.63. research analysts forecast that Salesforce will post 7.47 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a dividend of $1.60 on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider buying and selling

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $30,912,044.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. 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 three months. 3.20% of shares are held by insiders.

Institutional inputs and outputs

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Gilbert & Cook Inc. grew its holdings in Salesforce by 6.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after purchasing an additional 366 shares during the last quarter. Savant Capital LLC grew its stake in Salesforce by 27.7% during the 4th quarter. Savant Capital LLC now owns 16,576 shares of the CRM provider’s stock worth $4,362,000 after buying an additional 3,595 shares in the that period. Essex Financial Services Inc. boosted its holdings in Salesforce by 11.5% in the fourth quarter. Essex Financial Services Inc. now owns 2,242 shares of the CRM provider’s stock valued at $590,000 after purchasing an additional 232 shares during the last quarter. LGT Fund Management Co Ltd. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $2,239,000. Finally, Fisher Asset Management LLC grew its position in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock, valued at $3,926,323,000. after acquiring an additional 752,566 shares during the period. 80.43% of the shares are currently held by hedge funds and other institutional investors.

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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