Weekly Investment Analysts’ Ratings Updates for Salesforce (CRM)

A number of firms have modified their ratings and price targets on shares of Salesforce (NYSE: CRM) recently:

• 10/10/2024 – Salesforce was downgraded by analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating.
• 10/2/2024 – Salesforce was upgraded by analysts at Northland Capmk from a “hold” rating to a “strong-buy” rating.
• 10/2/2024 – Salesforce was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating. They now have a $400.00 price target on the stock, up previously from $270.00.
• 9/27/2024 – Salesforce had its price target raised by analysts at Wedbush from $315.00 to $325.00. They now have an “outperform” rating on the stock.
• 9/24/2024 – Salesforce was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $325.00 price target on the stock, up previously from $268.00.
• 9/20/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
• 9/19/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $300.00 price target on the stock.
• 9/19/2024 – Salesforce had its “hold” rating reaffirmed by analysts at Loop Capital. They now have a $270.00 price target on the stock.
• 9/19/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $315.00 price target on the stock, up previously from $300.00.
• 9/11/2024 – Salesforce had its “hold” rating reaffirmed by analysts at Erste Group Bank AG.
• 9/6/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $325.00 price target on the stock.
• 9/6/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
• 8/30/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $300.00 price target on the stock.
• 8/30/2024 – Salesforce had its “accumulate” rating reaffirmed by analysts at Phillip Securities. They now have a $305.00 price target on the stock.
• 8/29/2024 – Salesforce was upgraded by analysts at FBN Securities to a “strong-buy” rating.
• 8/29/2024 – Salesforce was upgraded by analysts at BNP Paribas to a “strong-buy” rating.
• 8/29/2024 – Salesforce had its price target raised by analysts at Raymond James from $325.00 to $350.00. They now have a “strong-buy” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at JPMorgan Chase & Co. from $300.00 to $310.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Morgan Stanley from $320.00 to $330.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $315.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Sanford C. Bernstein from $234.00 to $236.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $300.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Oppenheimer Holdings Inc. from $280.00 to $300.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Robert W. Baird from $295.00 to $315.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at BMO Capital Markets from $265.00 to $305.00. They now have an “outperform” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at DA Davidson from $230.00 to $250.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Piper Sandler from $250.00 to $268.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at UBS Group AG from $250.00 to $275.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at TD Cowen from $285.00 to $290.00. They now have a “hold” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Loop Capital from $240.00 to $270.00. They now have a “hold” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Wells Fargo & Company from $250.00 to $275.00. They now have an “equal weight” rating on the stock.
• 8/29/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $335.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Stifel Nicolaus from $300.00 to $320.00. They now have a “buy” rating on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Canaccord Genuity Group Inc. from $300.00 to $315.00. They now have a “buy” rating on the stock.
• 8/29/2024 – Salesforce had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $345.00 price target on the stock.
• 8/29/2024 – Salesforce had its price target raised by analysts at Bank of America Co. from $316.00 to $325.00. They now have a “buy” rating on the stock.
• 8/28/2024 – Salesforce had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $342.00 price target on the stock.
• 8/26/2024 – Salesforce had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $300.00 price target on the stock.
• 8/26/2024 – Salesforce had its price target raised by analysts at Citigroup Inc. from $260.00 to $290.00. They now have a “neutral” rating on the stock.
• 8/16/2024 – Salesforce had its price target raised by analysts at Bank of America Co. from $288.00 to $316.00. They now have a “buy” rating on the stock.

Salesforce Stock Performance

Shares of CRM opened at $288.10 on Monday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The business’s fifty day simple moving average is $261.93 and its two-hundred day simple moving average is $263.61. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $279.17 billion, a price-to-earnings ratio of 51.82, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock valued at $21,283,087 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ruedi Wealth Management Inc. boosted its stake in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank grew its stake in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC raised its holdings in shares of 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 buying an additional 98 shares during the period. Red Tortoise LLC bought a new stake in shares of Salesforce during the 1st quarter worth approximately $33,000. Finally, Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.