Salesforce (NYSE:CRM) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Salesforce and set a $255 price target, implying 21.89% upside from the stock’s $209.20 opening price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $249.87, though some firms have downgraded Salesforce or lowered their targets.
• Salesforce reported quarterly earnings of $3.88 per share and revenue of $11.13 billion, surpassing estimates; revenue increased 13.3% year over year. Institutional investors own approximately 80.43% of the company’s shares.

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at BTIG Research in a research note issued on Monday,Benzinga reports. They presently have a $255.00 price objective on the CRM provider's stock. BTIG Research's price target indicates a potential upside of 21.89% from the company's current price.

Several other research analysts have also recently weighed in on CRM. Wall Street Zen cut Salesforce from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Jefferies Financial Group upgraded shares of Salesforce from a "buy" rating to a "buy" rating in a research report on Wednesday, July 1st. Daiwa Securities Group cut their price target on shares of Salesforce from $295.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, June 2nd. Oppenheimer restated an "outperform" rating on shares of Salesforce in a research report on Thursday. Finally, Roth Capital reaffirmed a "buy" rating and issued a $325.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $249.87.

Salesforce Trading Up 0.0%

Shares of NYSE:CRM opened at $209.20 on Monday. Salesforce has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a market cap of $171.33 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.13 and a beta of 1.16. The company has a 50 day moving average of $174.33 and a 200-day moving average of $181.35.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, analysts anticipate that Salesforce will post 10.27 earnings per share for the current fiscal year.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of CRM. Fred Alger Management LLC lifted its position in shares of Salesforce by 0.3% during the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock worth $3,548,000 after purchasing an additional 45 shares in the last quarter. Synergy Financial Group LTD grew its position in shares of Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock worth $482,000 after buying an additional 48 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in shares of Salesforce by 35.4% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider's stock worth $53,000 after buying an additional 52 shares during the last quarter. Krane Funds Advisors LLC increased its stake in shares of Salesforce by 0.7% in the fourth quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider's stock worth $2,187,000 after buying an additional 57 shares during the last quarter. Finally, HBW Advisory Services LLC raised its holdings in Salesforce by 0.4% in the first quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider's stock valued at $2,445,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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