Canaccord Genuity Group Lowers Salesforce (NYSE:CRM) Price Target to $300.00

Key Points

• Canaccord Genuity Group has decreased its price target for Salesforce from $350.00 to $300.00, while maintaining a "buy" rating, indicating a potential upside of 16.79%.
• Salesforce reported earnings of $2.91 per share for the last quarter, exceeding estimates, with a revenue of $10.24 billion, marking a 9.8% increase compared to the previous year.
• Institutional investors now hold 80.43% of Salesforce's stock, with significant recent investments from Norges Bank and GAMMA Investing LLC, reflecting strong confidence in the company's future performance.

Salesforce (NYSE:CRM - Get Free Report) had its price objective decreased by stock analysts at Canaccord Genuity Group from $350.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the CRM provider's stock. Canaccord Genuity Group's price objective would indicate a potential upside of 19.81% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. KeyCorp dropped their target price on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Thursday. Northland Securities dropped their target price on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Finally, Bank of America decreased their price target on shares of Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $331.34.

Salesforce Price Performance

Shares of NYSE:CRM traded up $6.39 during midday trading on Thursday, hitting $250.40. The stock had a trading volume of 13,010,920 shares, compared to its average volume of 9,763,446. The company's 50-day moving average price is $255.64 and its 200-day moving average price is $267.08. The company has a market capitalization of $239.39 billion, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce has a fifty-two week low of $226.48 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.34%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, equities research analysts predict that Salesforce will post 7.46 EPS for the current fiscal year.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $3,061,511,978.42. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 66,077 shares of company stock worth $16,885,773. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth $25,000. Painted Porch Advisors LLC grew its stake in shares of Salesforce by 260.0% in the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock worth $25,000 after acquiring an additional 65 shares in the last quarter. Evolution Wealth Management Inc. bought a new stake in shares of Salesforce in the 2nd quarter worth $27,000. Wood Tarver Financial Group LLC bought a new position in Salesforce during the fourth quarter valued at about $35,000. Finally, Capital A Wealth Management LLC grew its position in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after buying an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Company Profile

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.