Salesforce, Inc. (NYSE:CRM) Receives $365.62 Average Price Target from Analysts

Salesforce, Inc. (NYSE:CRM) has earned a consensus rating of “Moderate Buy” from the forty-one analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and four have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $364.14.

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group reduced their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets reduced their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Macquarie reduced their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th.

Salesforce Stock Performance

Shares of Salesforce stock opened at $278.98 on Friday. The firm has a market capitalization of $268.10 billion, a P/E ratio of 45.88, a PEG ratio of 2.58 and a beta of 1.35. 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 company has a 50 day moving average price of $316.13 and a 200 day moving average price of $309.71. Salesforce has a 52 week low of $212.00 and a 52 week high of $369.00.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRM. United Bank raised its holdings in shares of Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Salesforce by 24.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 8,917 shares of the CRM provider’s stock worth $2,441,000 after acquiring an additional 1,724 shares during the period. Bell Bank raised its holdings in shares of Salesforce by 2.0% during the 3rd quarter. Bell Bank now owns 8,661 shares of the CRM provider’s stock worth $2,371,000 after acquiring an additional 173 shares during the period. Plato Investment Management Ltd raised its holdings in shares of Salesforce by 2.3% during the 3rd quarter. Plato Investment Management Ltd now owns 29,864 shares of the CRM provider’s stock worth $8,166,000 after acquiring an additional 684 shares during the period. Finally, Fortis Capital Management LLC purchased a new position in shares of Salesforce during the 3rd quarter worth $2,952,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.