Salesforce (NYSE:CRM) Earns “Neutral” Rating from Guggenheim

Salesforce (NYSE:CRM)‘s stock had its “neutral” rating reiterated by investment analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports.

Several other research analysts have also weighed in on the company. Citigroup increased their price objective on Salesforce from $290.00 to $368.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. BMO Capital Markets upped their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America boosted their target price on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $361.46.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $331.77 on Wednesday. The firm has a 50 day moving average of $304.68 and a 200 day moving average of $271.14. Salesforce has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $317.17 billion, a price-to-earnings ratio of 57.70, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30.

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). The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. On average, sell-side analysts predict that Salesforce will post 7.54 earnings per share for the current fiscal year.

Insider Transactions at Salesforce

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. The trade was a 75.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $30,223,020.24. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,982 shares of company stock worth $41,591,457 in the last 90 days. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at $27,000. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter worth approximately $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Company Profile

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.