Cantor Fitzgerald Reiterates Overweight Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "overweight" rating reiterated by Cantor Fitzgerald in a report released on Friday,Benzinga reports. They currently have a $325.00 price objective on the CRM provider's stock. Cantor Fitzgerald's price objective indicates a potential upside of 23.78% from the stock's previous close.

A number of other equities research analysts have also commented on CRM. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a report on Tuesday, June 10th. Sanford C. Bernstein raised their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a report on Thursday, May 29th. Stephens lowered their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Finally, The Goldman Sachs Group lifted their price objective on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $349.08.

Salesforce Trading Up 1.2%

CRM opened at $262.57 on Friday. Salesforce has a 52 week low of $230.00 and a 52 week high of $369.00. The company has a market capitalization of $251.02 billion, a P/E ratio of 40.95, a PEG ratio of 2.35 and a beta of 1.38. The stock's fifty day moving average is $268.39 and its two-hundred day moving average is $298.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. Analysts forecast that Salesforce will post 7.46 earnings per share for the current year.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,111 shares of company stock valued at $9,299,283 in the last 90 days. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Advisors Ltd. LLC boosted its position in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Mainstream Capital Management LLC lifted its stake in Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after buying an additional 33 shares during the last quarter. Delap Wealth Advisory LLC boosted its holdings in shares of Salesforce by 2.7% in the fourth quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider's stock valued at $447,000 after acquiring an additional 35 shares during the period. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Salesforce by 0.5% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider's stock valued at $2,369,000 after acquiring an additional 35 shares during the period. Finally, Wulff Hansen & CO. boosted its stake in Salesforce by 3.5% during the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock worth $346,000 after purchasing an additional 35 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.

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