Salesforce Inc. (NYSE:CRM) Given Average Rating of "Moderate Buy" by Analysts

Salesforce Inc. (NYSE:CRM - Get Free Report) has been given an average rating of "Moderate Buy" by the forty-two brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $349.08.

Several brokerages have issued reports on CRM. Scotiabank cut their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Stephens lowered their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. The Goldman Sachs Group boosted their price objective on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th.

Salesforce Stock Performance

NYSE:CRM opened at $260.79 on Friday. Salesforce has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm's fifty day simple moving average is $268.51 and its 200 day simple moving average is $297.25. The stock has a market cap of $249.31 billion, a P/E ratio of 40.81, a price-to-earnings-growth ratio of 2.36 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Salesforce will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Millham sold 3,937 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. The trade was a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,111 shares of company stock worth $9,299,283 over the last 90 days. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Capital Advisors Ltd. LLC increased its holdings in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares during the period. Mainstream Capital Management LLC boosted its position in shares of Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock worth $2,143,000 after purchasing an additional 33 shares in the last quarter. Delap Wealth Advisory LLC increased its position in Salesforce by 2.7% during the 4th quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider's stock valued at $447,000 after buying an additional 35 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in shares of Salesforce by 0.5% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider's stock worth $2,369,000 after acquiring an additional 35 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock valued at $346,000 after purchasing an additional 35 shares during the last quarter. 80.43% of the stock is currently 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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