Salesforce (NYSE:CRM) Price Target Cut to $315.00 by Analysts at Piper Sandler

Key Points

• Salesforce's price target has been reduced by Piper Sandler from $335.00 to $315.00, while maintaining an "overweight" rating, signaling a potential upside of 22.63% from its current price.
• The firm reported better-than-expected quarterly earnings with an EPS of $2.91, surpassing estimates of $2.78, and had a revenue of $10.24 billion.
• Currently, Salesforce holds a consensus rating of "Moderate Buy" with a consensus price target of $336.21, according to MarketBeat.com.

Salesforce (NYSE:CRM - Free Report) had its target price trimmed by Piper Sandler from $335.00 to $315.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the CRM provider's stock.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday. Mizuho lowered their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. BMO Capital Markets reduced their price objective on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday, July 10th. Stifel Nicolaus reduced their price objective on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Finally, Barclays reduced their price objective on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $331.34.

Salesforce Stock Up 2.6%

NYSE:CRM traded up $6.39 during mid-day trading on Thursday, reaching $250.40. The company's stock had a trading volume of 13,010,920 shares, compared to its average volume of 9,763,446. Salesforce has a 1 year low of $226.48 and a 1 year high of $369.00. The stock has a fifty day moving average of $255.64 and a 200-day moving average of $267.08. The firm has a market capitalization of $239.39 billion, a PE 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 (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.34%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the firm earned $2.56 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Equities research analysts forecast that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be given a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,061,511,978.42. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 66,077 shares of company stock valued at $16,885,773. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently bought and sold shares of the business. Reynders McVeigh Capital Management LLC raised its position in Salesforce by 18.4% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 123,325 shares of the CRM provider's stock worth $33,630,000 after buying an additional 19,172 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $27,000. Total Investment Management Inc. acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $115,000. Centaurus Financial Inc. grew its stake in shares of Salesforce by 7.9% during the 2nd quarter. Centaurus Financial Inc. now owns 15,016 shares of the CRM provider's stock worth $4,095,000 after purchasing an additional 1,102 shares during the period. Finally, Orion Porfolio Solutions LLC grew its stake in shares of Salesforce by 12.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 87,816 shares of the CRM provider's stock worth $23,947,000 after purchasing an additional 9,834 shares during the period. 80.43% of the stock is owned by hedge funds and other 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.