Salesforce (NYSE:CRM) Upgraded by Erste Group Bank to Buy Rating

Erste Group Bank upgraded shares of Salesforce (NYSE:CRM) from a hold rating to a buy rating in a report published on Tuesday,Benzinga reports.

A number of other equities research analysts have also weighed in on CRM. Scotiabank started coverage on Salesforce in a research report on Monday, November 18th. They set a “sector outperform” rating and a $425.00 price objective on the stock. Canaccord Genuity Group boosted their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. BMO Capital Markets boosted their target price on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Loop Capital lifted their price target on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $336.37.

Salesforce Stock Performance

Salesforce stock opened at $342.12 on Tuesday. The stock has a market cap of $327.07 billion, a PE ratio of 59.50, a P/E/G ratio of 2.93 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce has a 12-month low of $212.00 and a 12-month high of $348.86. The business’s 50-day moving average price is $294.61 and its two-hundred day moving average price is $268.66.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company earned $1.63 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that Salesforce will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity at Salesforce

In related news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 3,528 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $29,464,622.79. This trade represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,991 shares of company stock worth $43,333,238. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter valued at approximately $27,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. grew its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth $33,000. Institutional investors own 80.43% of the company’s stock.

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.