Salesforce, Inc. (NYSE:CRM) Receives $349.87 Consensus PT from Brokerages

Salesforce, Inc. (NYSE:CRM) has been given a consensus recommendation of “Moderate Buy” by the forty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $346.34.

CRM has been the subject of several research reports. Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group dropped their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Northland Securities dropped their price objective on Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday, May 28th.

Salesforce Stock Up 1.1%

CRM stock opened at $264.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $252.92 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 2.58 and a beta of 1.38. Salesforce has a fifty-two week low of $227.77 and a fifty-two week high of $369.00. The stock has a fifty day moving average of $266.65 and a 200-day moving average of $303.58.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. As a group, equities research analysts predict that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. Salesforce’s dividend payout ratio is 25.98%.

Insider Buying and Selling

In related news, insider Miguel Milano sold 705 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the transaction, the insider now directly owns 9,323 shares in the company, valued at $2,605,219.12. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 in the last ninety days. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter worth approximately $30,000. Finally, Capital A Wealth Management LLC grew its position in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is currently 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.