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Salesforce (NYSE:CRM) Given New $360.00 Price Target at Jefferies Financial Group

Salesforce (NYSE:CRM - Get Free Report) had its target price raised by stock analysts at Jefferies Financial Group from $350.00 to $360.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the CRM provider's stock. Jefferies Financial Group's price target indicates a potential upside of 31.47% from the company's previous close.

A number of other research firms have also weighed in on CRM. StockNews.com lowered Salesforce from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 19th. Robert W. Baird upped their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an "outperform" rating in a report on Thursday, February 29th. Wells Fargo & Company boosted their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an "equal weight" rating in a report on Wednesday, February 21st. Citigroup lifted their price target on shares of Salesforce from $265.00 to $325.00 and gave the company a "neutral" rating in a research report on Monday, February 26th. Finally, UBS Group lifted their target price on Salesforce from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $310.61.


View Our Latest Research Report on CRM

Salesforce Price Performance

CRM stock traded up $3.46 during midday trading on Monday, reaching $273.83. The stock had a trading volume of 6,741,842 shares, compared to its average volume of 5,712,625. Salesforce has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company's fifty day simple moving average is $297.28 and its 200 day simple moving average is $262.29. The company has a market cap of $265.62 billion, a price-to-earnings ratio of 65.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter in the prior year, the company earned $1.01 EPS. Salesforce's revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce will post 7.45 earnings per share for the current fiscal year.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 24,453 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Brian Millham sold 24,453 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now owns 38,483 shares of the company's stock, valued at approximately $11,903,561.56. The disclosure for this sale can be found here. Insiders have sold 596,595 shares of company stock worth $175,648,172 over the last quarter. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. Capital World Investors raised its holdings in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider's stock valued at $5,147,402,000 after purchasing an additional 457,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider's stock valued at $3,926,323,000 after buying an additional 752,566 shares in the last quarter. Capital International Investors lifted its position in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider's stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Salesforce by 1.1% during the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider's stock worth $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Salesforce during the 4th quarter valued at about $2,762,331,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

About Salesforce

(Get Free Report)

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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