Brokerages Set Salesforce, Inc. (NYSE:CRM) Target Price at $304.32

Salesforce, Inc. (NYSE:CRM - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirty-three research firms that are currently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, twenty-three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $304.32.

Several research analysts have commented on CRM shares. UBS Group raised their price objective on Salesforce from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Friday, February 16th. Canaccord Genuity Group reissued a "buy" rating and issued a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Royal Bank of Canada raised their target price on Salesforce from $285.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. Mizuho restated a "buy" rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price target on Salesforce from $260.00 to $310.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 293,965 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the firm's stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares of the company's stock, valued at $799,618.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 293,965 shares of the firm's stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. Insiders sold a total of 901,258 shares of company stock worth $256,569,563 over the last three months. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the fourth quarter worth about $26,000. Union Savings Bank purchased a new stake in Salesforce during the second quarter worth about $27,000. Aspect Partners LLC purchased a new stake in Salesforce during the fourth quarter worth about $29,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce during the fourth quarter worth about $31,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

NYSE:CRM traded down $0.20 during trading hours on Friday, reaching $301.18. 4,892,275 shares of the company traded hands, compared to its average volume of 6,832,268. Salesforce has a 1-year low of $187.31 and a 1-year high of $318.71. The firm's 50-day moving average is $294.72 and its 200-day moving average is $252.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $292.14 billion, a P/E ratio of 71.71, a P/E/G ratio of 2.32 and a beta of 1.28.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that Salesforce will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce's dividend payout ratio (DPR) is currently 9.52%.

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.