Salesforce (NYSE:CRM – Get Rating) had its price objective lifted by BMO Capital Markets from $185.00 to $230.00 in a research note published on Thursday morning, The Fly reports. BMO Capital Markets currently has an outperform rating on the CRM provider’s stock.
Several other equities analysts have also issued reports on the company. Sanford C. Bernstein lowered Salesforce from a market perform rating to an underperform rating and lowered their price target for the stock from $134.00 to $119.00 in a research report on Wednesday, January 11th. JMP Securities reiterated a market perform rating and issued a $250.00 price objective on shares of Salesforce in a report on Thursday. Royal Bank of Canada lifted their price objective on Salesforce from $165.00 to $225.00 and gave the stock an outperform rating in a report on Thursday. Canaccord Genuity Group reduced their price objective on Salesforce from $215.00 to $180.00 and set a buy rating for the company in a report on Thursday, December 1st. Finally, Citigroup lifted their price objective on Salesforce from $164.00 to $182.00 and gave the stock a neutral rating in a report on Friday, February 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of Moderate Buy and a consensus price target of $211.24.
Salesforce Price Performance
CRM opened at $186.43 on Thursday. The stock has a 50-day moving average price of $156.87 and a 200-day moving average price of $153.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.05. The firm has a market cap of $186.43 billion, a PE ratio of 887.80, a P/E/G ratio of 3.53 and a beta of 1.21. Salesforce has a 1 year low of $126.34 and a 1 year high of $222.15.
Insider Transactions at Salesforce
In other news, CAO Sundeep G. Reddy sold 186 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $155.59, for a total transaction of $28,939.74. Following the sale, the chief accounting officer now directly owns 1,273 shares of the company’s stock, valued at approximately $198,066.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Amy E. Weaver sold 924 shares of the business’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $128.55, for a total transaction of $118,780.20. Following the transaction, the chief financial officer now owns 32,807 shares of the company’s stock, valued at approximately $4,217,339.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 186 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total value of $28,939.74. Following the transaction, the chief accounting officer now directly owns 1,273 shares in the company, valued at approximately $198,066.07. The disclosure for this sale can be found here. Insiders have sold 27,868 shares of company stock valued at $4,560,558 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.
Hedge Funds Weigh In On Salesforce
Several large investors have recently modified their holdings of CRM. Investors Asset Management of Georgia Inc. GA ADV grew its position in Salesforce by 506.1% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 167 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Salesforce by 113.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 110 shares during the last quarter. Capital Directions Investment Advisors LLC bought a new position in Salesforce in the 4th quarter valued at $28,000. Financial Management Professionals Inc. grew its position in Salesforce by 365.2% in the 4th quarter. Financial Management Professionals Inc. now owns 214 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 168 shares during the last quarter. Finally, HBC Financial Services PLLC grew its position in Salesforce by 350.0% in the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 75.83% of the company’s stock.
About Salesforce
Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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