Argus Issues Positive Forecast for Salesforce (NYSE:CRM) Stock Price

Key Points

• Argus raised Salesforce’s price target to $300 from $290 and maintained a “buy” rating, implying 16.91% upside from the prior close.
• Analyst sentiment remains positive overall, with Salesforce carrying a consensus “Moderate Buy” rating and an average price target of $262.12.
• Salesforce reported quarterly earnings of $5.90 per share, well above the $3.27 consensus estimate, while revenue rose 10.8% year over year to $11.35 billion.

Salesforce (NYSE:CRM - Get Free Report) had its price target lifted by equities researchers at Argus from $290.00 to $300.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the CRM provider's stock. Argus' price target indicates a potential upside of 16.91% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Evercore reissued an "outperform" rating on shares of Salesforce in a research report on Thursday. DA Davidson raised their target price on shares of Salesforce from $175.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Salesforce in a report on Thursday. HC Wainwright lowered shares of Salesforce to a "negative" rating in a research report on Thursday, June 18th. Finally, Guggenheim restated a "buy" rating and set a $228.00 price target on shares of Salesforce in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.12.

Salesforce Trading Up 0.2%

Shares of NYSE:CRM opened at $256.60 on Monday. The stock has a market capitalization of $211.18 billion, a PE ratio of 23.39, a P/E/G ratio of 1.12 and a beta of 1.16. Salesforce has a 1 year low of $146.32 and a 1 year high of $269.11. The firm has a fifty day moving average price of $181.24 and a 200 day moving average price of $182.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating the consensus estimate of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The company had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. During the same period last year, the company earned $2.91 earnings per share. The business's revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Analysts expect that Salesforce will post 12.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fred Alger Management LLC lifted its position in Salesforce by 0.3% in the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock valued at $3,548,000 after buying an additional 45 shares during the last quarter. Synergy Financial Group LTD increased its holdings in Salesforce by 2.4% in the 3rd quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock valued at $482,000 after purchasing an additional 48 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 35.4% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider's stock worth $53,000 after purchasing an additional 52 shares in the last quarter. Krane Funds Advisors LLC grew its stake in shares of Salesforce by 0.7% in the fourth quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider's stock valued at $2,187,000 after buying an additional 57 shares in the last quarter. Finally, HBW Advisory Services LLC lifted its stake in Salesforce by 0.4% during the 1st quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider's stock worth $2,445,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

About Salesforce

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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