Salesforce (NYSE:CRM) Stock Price Up 0.8% – Should You Buy?

Salesforce, Inc. (NYSE:CRM)’s share price was up 0.8% during trading on Tuesday . The company traded as high as $355.49 and last traded at $354.53. Approximately 1,463,509 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 6,390,537 shares. The stock had previously closed at $351.57.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. Piper Sandler boosted their price target on Salesforce from $325.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Bank of America raised their target price on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Wedbush lifted their price target on Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Eight analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.86.

Salesforce Stock Down 1.1 %

The stock has a market capitalization of $332.63 billion, a price-to-earnings ratio of 58.31, a price-to-earnings-growth ratio of 3.27 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average is $311.53 and its two-hundred day moving average is $273.32.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Activity at Salesforce

In related news, insider Sabastian Niles sold 2,484 shares of the 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. This trade represents a 75.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $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 quarter, insiders sold 140,982 shares of company stock valued at $41,591,457. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the company. Aviance Capital Partners LLC boosted its holdings in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after acquiring an additional 33 shares during the period. EWA LLC increased its stake in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the period. Umpqua Bank boosted its position in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after buying an additional 34 shares during the period. Principal Street Partners LLC boosted its position in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares during the period. Finally, Nvwm LLC increased its position in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

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.