2 weeks Ago By ABMN Staff
Salesforce ( NYSE:CRM – Get Free Report ) had its price objective upped by stock analysts at Canaccord Genuity Group from $300.00 to $315.00 in a research report issued to clients and investors on Thursday, Benzinga reports.
The firm currently has a “buy” rating on the CRM provider’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 24.56% from the stock’s current price.
CRM has been the subject of several other research reports. Truist Financial reissued a “buy” rating and set a $300.00 target price (down previously from $360.
00) on shares of Salesforce in a report on Thursday, May 30th. Raymond James lifted their price objective on Salesforce from $325.00 to $350.
00 and gave the company a “strong-buy” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday.
DA Davidson dropped their target price on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th.
Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th.
Nine investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $302.
00. Get Our Latest Stock Analysis on Salesforce Salesforce Stock Down 1.6 % Salesforce ( NYSE:CRM – Get Free Report ) last issued its earnings results on Wednesday, August 28th.
The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.
20. Salesforce had a return on equity of 11.57% and a net margin of 15.
30%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.
22 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share.
Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that Salesforce will post 7.
47 EPS for the current year. Insiders Place Their Bets In other Salesforce news, Director G Mason Morfit bought 428,000 shares of Salesforce stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $233.
17 per share, for a total transaction of $99,796,760.00. Following the completion of the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.
53. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink . In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 4th.
The stock was sold at an average price of $235.71, for a total transaction of $3,535,650.00.
Following the transaction, the chief executive officer now owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .
Also, Director G Mason Morfit bought 428,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was bought at an average price of $233.17 per share, with a total value of $99,796,760.
00. Following the completion of the acquisition, the director now owns 3,914,309 shares in the company, valued at $912,699,429.53.
The disclosure for this purchase can be found here . Insiders have sold a total of 112,964 shares of company stock valued at $27,956,647 in the last 90 days. 3.
20% of the stock is owned by insiders. Institutional Inflows and Outflows Institutional investors and hedge funds have recently modified their holdings of the company. Spartan Planning & Wealth Management grew its stake in shares of Salesforce by 66.
3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after buying an additional 625 shares during the period. Parnassus Investments LLC grew its position in Salesforce by 0.
3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares during the period. TD Asset Management Inc increased its stake in Salesforce by 32.
6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Salesforce by 1.
3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares during the period. Finally, M&G Plc purchased a new stake in Salesforce in the first quarter valued at $2,178,000.
Institutional investors and hedge funds own 80.43% of the company’s stock. About Salesforce ( Get Free Report ) 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. Recommended Stories Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter .
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