Salesforce (NYSE:CRM) Price Target Raised to $425.00 at Jefferies Financial Group

Salesforce (NYSE:CRM) had its target price lifted by research analysts at Jefferies Financial Group from $400.00 to $425.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the CRM provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 15.51% from the stock’s current price.

A number of other analysts also recently issued reports on CRM. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday. Scotiabank raised their price objective on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Raymond James raised their price objective on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Finally, Loop Capital increased their target price on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $372.86.

Salesforce Stock Performance

Shares of CRM stock opened at $367.94 on Wednesday. The firm has a 50-day moving average of $306.55 and a 200-day moving average of $271.81. The company has a market cap of $351.75 billion, a P/E ratio of 60.52, a P/E/G ratio of 3.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.31%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts forecast that Salesforce will post 7.55 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,223,020.24. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,982 shares of company stock valued at $41,591,457 over the last three months. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at $27,000. Clear Investment Research LLC lifted its holdings 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 valued at $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter worth $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

About Salesforce

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.