JMP Securities Reaffirms “Market Outperform” Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a research report issued on Tuesday,Benzinga reports. They presently have a $450.00 price target on the CRM provider’s stock. JMP Securities’ price objective points to a potential upside of 35.95% from the stock’s current price.

CRM has been the topic of a number of other reports. Wedbush lifted their target price on Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Loop Capital raised their price target on Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. TD Cowen increased their price objective on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $345.31.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $331.01 on Tuesday. The company has a market capitalization of $316.45 billion, a price-to-earnings ratio of 57.53, a price-to-earnings-growth ratio of 2.99 and a beta of 1.30. Salesforce has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $302.12 and a 200 day moving average of $270.49.

Insider Activity

In related news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction 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 sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,982 shares of company stock valued at $41,591,457. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Piscataqua Savings Bank increased its stake in 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 buying an additional 96 shares during the period. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter worth about $27,000. Clear Investment Research LLC increased its holdings in shares of Salesforce by 816.7% during 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 boosted its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the second quarter worth $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.