Citigroup Boosts Salesforce (NYSE:CRM) Price Target to $276.00

Key Points

• Citigroup has raised the price target for Salesforce (NYSE:CRM) from $275.00 to $276.00, suggesting a potential upside of 9.08% based on the company's previous close.
• Salesforce reported earnings of $2.91 per share, exceeding analysts' expectations of $2.78, while their revenue for the quarter was $10.24 billion, above the anticipated $10.14 billion.
• As of now, Salesforce maintains a consensus rating of "Moderate Buy" with an average price target of $332.58, involving various ratings from multiple analysts.

Salesforce (NYSE:CRM - Get Free Report) had its target price boosted by research analysts at Citigroup from $275.00 to $276.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the CRM provider's stock. Citigroup's price objective would suggest a potential upside of 9.08% from the company's previous close.

CRM has been the topic of several other reports. Royal Bank Of Canada dropped their price target on Salesforce from $275.00 to $250.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 4th. Barclays dropped their target price on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Bank of America dropped their target price on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. UBS Group decreased their price target on Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. Finally, JMP Securities reiterated a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Trading Up 0.3%

Shares of Salesforce stock traded up $0.75 on Tuesday, reaching $253.02. 2,764,313 shares of the company were exchanged, compared to its average volume of 7,485,535. The stock has a fifty day moving average price of $255.22 and a 200-day moving average price of $265.91. The firm has a market capitalization of $240.87 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce has a fifty-two week low of $226.48 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, analysts expect that Salesforce will post 7.46 EPS for the current year.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,061,511,978.42. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 66,077 shares of company stock valued at $16,885,773 over the last three months. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after buying an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC raised its holdings in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after buying an additional 184 shares in the last quarter. Algert Global LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $280,000. Finally, MJP Associates Inc. ADV increased its holdings in Salesforce by 56.2% during the 4th quarter. MJP Associates Inc. ADV now owns 1,142 shares of the CRM provider's stock valued at $382,000 after purchasing an additional 411 shares in the last quarter. 80.43% of the stock is owned by 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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