JMP Securities Reiterates "Market Outperform" Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "market outperform" rating reaffirmed by investment analysts at JMP Securities in a report released on Wednesday,Benzinga reports. They presently have a $450.00 price objective on the CRM provider's stock. JMP Securities' price target points to a potential upside of 33.44% from the stock's current price.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley increased their price target on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Northland Securities restated an "outperform" rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. TD Cowen increased their price objective on shares of Salesforce from $290.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday, November 21st. Finally, Oppenheimer reissued an "outperform" rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $378.86.

Salesforce Trading Down 3.9 %

NYSE CRM traded down $13.74 during trading hours on Wednesday, hitting $337.23. 8,381,377 shares of the company were exchanged, compared to its average volume of 6,413,832. Salesforce has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $321.11 and a 200 day moving average price of $277.86. The stock has a market cap of $322.73 billion, a PE ratio of 55.47, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce's revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. Analysts forecast that Salesforce will post 7.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the company's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 5,735 shares of Salesforce stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $266.22, for a total transaction of $1,526,771.70. Following the completion of the transaction, the chief operating officer now owns 1,663 shares of the company's stock, valued at $442,723.86. This represents a 77.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,298 shares of company stock valued at $39,903,781 in the last three months. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Clear Investment Research LLC increased its holdings in Salesforce by 816.7% in the second 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 in the last quarter. Stephens Consulting LLC raised its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter worth $33,000. Finally, Godsey & Gibb Inc. lifted its holdings 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 purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

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.