Salesforce (NYSE:CRM) Stock Price Up 0.1% - Still a Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares shot up 0.1% on Wednesday . The stock traded as high as $289.70 and last traded at $287.68. 1,552,535 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 6,749,666 shares. The stock had previously closed at $287.34.

Analyst Ratings Changes

Several research firms have recently weighed in on CRM. Citigroup reissued a "cautious" rating on shares of Salesforce in a research report on Thursday, February 27th. Wedbush restated an "outperform" rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Truist Financial restated a "buy" rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.62.

Salesforce Trading Down 1.2 %

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 firm has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business's fifty day moving average is $323.68 and its two-hundred day moving average is $308.50.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter worth $25,000. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter worth $27,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter worth $30,000. 80.43% of the stock is owned by institutional investors.

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.