Salesforce, Inc. (NYSE:CRM) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirty-eight analysts that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and four have given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $310.74.

Several equities analysts have commented on the stock. Evercore ISI reissued an "outperform" rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an "overweight" rating in a research note on Thursday, August 29th. Stifel Nicolaus lifted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Raymond James lifted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 29th. Finally, Phillip Securities reaffirmed an "accumulate" rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares of the company's stock, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Brian Millham sold 8,427 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the business's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock valued at $20,212,507 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. XN LP boosted its stake in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider's stock worth $119,420,000 after buying an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider's stock worth $3,284,000 after buying an additional 2,589 shares in the last quarter. M&G Plc acquired a new stake in shares of Salesforce in the 1st quarter valued at $2,178,000. First Foundation Advisors boosted its stake in shares of Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider's stock valued at $249,000 after purchasing an additional 228 shares in the last quarter. Finally, St. Johns Investment Management Company LLC boosted its stake in shares of Salesforce by 4.1% in the 1st quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider's stock valued at $1,757,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM stock traded down $3.33 during trading hours on Tuesday, reaching $288.31. The stock had a trading volume of 3,848,536 shares, compared to its average volume of 6,463,669. The firm has a market capitalization of $279.37 billion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 2.61 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. The firm has a 50-day simple moving average of $262.99 and a 200-day simple moving average of $263.55. Salesforce has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. As a group, equities analysts forecast that Salesforce will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's dividend payout ratio is 28.78%.

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.