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S&P 500   3,655.04
DOW   29,260.81
QQQ   274.37
This Device Makes Creating Voice Memos Easy
CEO of biggest PE firm predicts “social unrest” (Ad)
Three Consumer Stocks That Could Outperform In Q4 
Will Synthetic Biology Firm Amyris Post Net Income In 2024?
Goldman Sachs Alum Sounds Alarm on "Next US Crisis" (Ad)
Comcast is an Asset Bonanza Priced Cheap
US stocks slip deeper into a slump as recession fears grow
Goldman Sachs Alum Sounds Alarm on "Next US Crisis" (Ad)
British pound plunges to new low as tax cuts spark concern
Lights out, ovens off: Europe preps for winter energy crisis
S&P 500   3,655.04
DOW   29,260.81
QQQ   274.37
This Device Makes Creating Voice Memos Easy
CEO of biggest PE firm predicts “social unrest” (Ad)
Three Consumer Stocks That Could Outperform In Q4 
Will Synthetic Biology Firm Amyris Post Net Income In 2024?
Goldman Sachs Alum Sounds Alarm on "Next US Crisis" (Ad)
Comcast is an Asset Bonanza Priced Cheap
US stocks slip deeper into a slump as recession fears grow
Goldman Sachs Alum Sounds Alarm on "Next US Crisis" (Ad)
British pound plunges to new low as tax cuts spark concern
Lights out, ovens off: Europe preps for winter energy crisis
S&P 500   3,655.04
DOW   29,260.81
QQQ   274.37
This Device Makes Creating Voice Memos Easy
CEO of biggest PE firm predicts “social unrest” (Ad)
Three Consumer Stocks That Could Outperform In Q4 
Will Synthetic Biology Firm Amyris Post Net Income In 2024?
Goldman Sachs Alum Sounds Alarm on "Next US Crisis" (Ad)
Comcast is an Asset Bonanza Priced Cheap
US stocks slip deeper into a slump as recession fears grow
Goldman Sachs Alum Sounds Alarm on "Next US Crisis" (Ad)
British pound plunges to new low as tax cuts spark concern
Lights out, ovens off: Europe preps for winter energy crisis

Salesforce (NYSE:CRM) PT Lowered to $180.00 at Wolfe Research

Salesforce (NYSE:CRM - Get Rating) had its price objective lowered by equities researchers at Wolfe Research from $200.00 to $180.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has an "outperform" rating on the CRM provider's stock. Wolfe Research's price target points to a potential upside of 19.88% from the stock's previous close.

A number of other equities analysts have also weighed in on the stock. Raymond James lowered their price objective on shares of Salesforce from $250.00 to $225.00 in a research report on Thursday, August 25th. UBS Group lowered their price objective on shares of Salesforce from $190.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, August 25th. Wedbush lowered their price objective on shares of Salesforce from $225.00 to $215.00 and set an "outperform" rating on the stock in a research report on Thursday, August 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Salesforce from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 25th. Finally, Stifel Nicolaus decreased their target price on shares of Salesforce to $200.00 in a research report on Thursday, August 25th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $242.12.

Salesforce Stock Performance


Shares of CRM opened at $150.15 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The firm has a market cap of $150.15 billion, a PE ratio of 278.06, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. The company's 50 day simple moving average is $171.85 and its 200-day simple moving average is $178.69. Salesforce has a 12-month low of $147.51 and a 12-month high of $311.75.

Salesforce (NYSE:CRM - Get Rating) last announced its earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.15. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. As a group, equities analysts predict that Salesforce will post 2.2 EPS for the current year.

Salesforce announced that its board has approved a stock repurchase plan on Wednesday, August 24th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the CRM provider to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 568 shares of Salesforce stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $177.87, for a total value of $101,030.16. Following the completion of the sale, the insider now owns 93,650 shares in the company, valued at approximately $16,657,525.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 568 shares of Salesforce stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $177.87, for a total value of $101,030.16. Following the completion of the sale, the insider now owns 93,650 shares in the company, valued at approximately $16,657,525.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $150.29, for a total value of $345,667.00. Following the completion of the sale, the chief executive officer now owns 27,761,368 shares of the company's stock, valued at approximately $4,172,255,996.72. The disclosure for this sale can be found here. Insiders sold 71,246 shares of company stock worth $12,337,917 in the last 90 days. 3.60% of the stock is owned by company insiders.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vectors Research Management LLC grew its holdings in shares of Salesforce by 128.9% during the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider's stock worth $26,000 after purchasing an additional 58 shares during the period. MCF Advisors LLC purchased a new stake in shares of Salesforce during the 1st quarter worth about $30,000. FSC Wealth Advisors LLC grew its holdings in shares of Salesforce by 1,350.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider's stock worth $31,000 after purchasing an additional 135 shares during the period. Retirement Group LLC grew its holdings in shares of Salesforce by 65.5% during the 1st quarter. Retirement Group LLC now owns 182 shares of the CRM provider's stock worth $39,000 after purchasing an additional 72 shares during the period. Finally, Rise Advisors LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 77.02% of the company's stock.

About Salesforce

(Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Further Reading

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Analyst Recommendations for Salesforce (NYSE:CRM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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