Salesforce’s (CRM) “Buy” Rating Reiterated at Roth Mkm

Salesforce (NYSE:CRM)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a report released on Thursday, Benzinga reports. They currently have a $335.00 price objective on the CRM provider’s stock. Roth Mkm’s price target points to a potential upside of 28.71% from the company’s current price.

A number of other brokerages also recently issued reports on CRM. Citigroup boosted their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday. DA Davidson upped their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Wedbush lowered their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Morgan Stanley increased their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $301.71.

Salesforce Price Performance

Salesforce stock traded up $1.38 during mid-day trading on Thursday, reaching $260.28. The company had a trading volume of 8,409,907 shares, compared to its average volume of 6,572,214. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market cap of $252.21 billion, a P/E ratio of 46.86, a P/E/G ratio of 2.22 and a beta of 1.29. The business has a fifty day simple moving average of $253.44 and a 200 day simple moving average of $271.63.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.73 by $0.19. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. On average, equities research analysts predict that Salesforce will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,912,044.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,964 shares of company stock valued at $27,956,647. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. lifted its position in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at about $26,000. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% during 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. Red Tortoise LLC purchased a new position in shares of Salesforce during the 1st quarter worth approximately $33,000. Finally, Clear Investment Research LLC grew 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 acquiring an additional 98 shares during the period. 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.