Salesforce (NYSE:CRM) Price Target Raised to $430.00 at Robert W. Baird

Salesforce (NYSE:CRM) had its target price lifted by analysts at Robert W. Baird from $340.00 to $430.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the CRM provider’s stock. Robert W. Baird’s target price points to a potential upside of 29.61% from the company’s previous close.

A number of other research firms have also recently commented on CRM. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price objective on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $385.00 price target (up previously from $330.00) on shares of Salesforce in a research report on Thursday, November 21st. Seven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.60.

Salesforce Price Performance

CRM stock opened at $331.77 on Wednesday. The stock has a market cap of $317.17 billion, a PE ratio of 57.70, a P/E/G ratio of 3.00 and a beta of 1.30. Salesforce has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a 50-day moving average price of $304.68 and a 200 day moving average price of $271.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced 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). Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce will post 7.54 earnings per share for the current year.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,982 shares of company stock worth $41,591,457 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently made changes to their positions in the company. Piscataqua Savings Bank boosted its stake 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 acquiring an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter worth about $27,000. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% in 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 during the period. Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce in the second quarter valued at approximately $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.