Deutsche Bank Aktiengesellschaft Cuts Salesforce (NYSE:CRM) Price Target to $340.00

Key Points

• Deutsche Bank Aktiengesellschaft has reduced its price target for Salesforce (NYSE:CRM) from $400.00 to $340.00 while maintaining a "buy" rating, indicating a potential upside of 41.46% from the previous close.
• Salesforce reported a quarterly EPS of $2.91, exceeding estimates, alongside a revenue of $10.24 billion, representing a 9.8% year-over-year growth.
• Following various analysts' revisions, Salesforce currently holds a consensus rating of "Moderate Buy" with a target price of $334.46.

Salesforce (NYSE:CRM - Get Free Report) had its price objective decreased by equities research analysts at Deutsche Bank Aktiengesellschaft from $400.00 to $340.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the CRM provider's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 41.46% from the company's previous close.

CRM has been the topic of several other reports. Northland Securities lowered their price objective on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. KeyCorp lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday. DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price objective on the stock in a research report on Friday, August 15th. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $334.46.

Salesforce Price Performance

NYSE:CRM traded down $16.11 during midday trading on Thursday, hitting $240.34. 11,407,539 shares of the stock were exchanged, compared to its average volume of 7,319,226. Salesforce has a one year low of $226.48 and a one year high of $369.00. The company has a market capitalization of $229.77 billion, a price-to-earnings ratio of 37.52, a P/E/G ratio of 2.33 and a beta of 1.22. The business has a 50-day moving average price of $256.61 and a two-hundred day moving average price of $268.18. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the previous year, the company earned $2.56 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Sell-side analysts predict that Salesforce will post 7.46 EPS for the current year.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $251.66, for a total value of $566,235.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $2,997,665,957.86. The trade was a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 63,827 shares of company stock valued at $16,342,398. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

A number of hedge funds have recently bought and sold shares of CRM. Brighton Jones LLC raised its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares during the last quarter. Bison Wealth LLC raised its position in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after buying an additional 184 shares during the last quarter. Algert Global LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $280,000. Finally, CoreCap Advisors LLC raised its position in shares of Salesforce by 38.2% during the fourth quarter. CoreCap Advisors LLC now owns 1,740 shares of the CRM provider's stock valued at $582,000 after buying an additional 481 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

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.

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