Salesforce (NYSE:CRM) Given New $396.00 Price Target at Northland Securities

Salesforce (NYSE:CRM - Get Free Report) had its price target decreased by equities research analysts at Northland Securities from $423.00 to $396.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the CRM provider's stock. Northland Securities' price target points to a potential upside of 51.45% from the stock's current price.

A number of other research analysts have also recently commented on CRM. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald started coverage on Salesforce in a research report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research report on Wednesday. Barclays decreased their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, UBS Group decreased their target price on Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $341.87.

Salesforce Stock Performance

Shares of CRM traded down $14.57 during midday trading on Thursday, reaching $261.47. 16,889,156 shares of the stock were exchanged, compared to its average volume of 6,990,811. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $251.37 billion, a P/E ratio of 42.99, a PEG ratio of 2.58 and a beta of 1.42. The stock's 50 day simple moving average is $268.16 and its 200 day simple moving average is $305.79.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the business earned $2.44 earnings per share. Salesforce's revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Salesforce will post 7.46 earnings per share for the current year.

Insider Buying and Selling at Salesforce

In other news, Director Robin L. Washington bought 1,695 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the transaction, the director now directly owns 43,445 shares of the company's stock, valued at $12,799,331.45. This trade represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of CRM. Tallon Kerry Patrick bought a new stake in Salesforce during the fourth quarter worth $236,000. Brighton Jones LLC grew its holdings in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after buying an additional 3,102 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Salesforce during the fourth quarter worth $104,173,000. Revolve Wealth Partners LLC grew its holdings in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after buying an additional 205 shares in the last quarter. Finally, Gateway Wealth Partners LLC bought a new stake in Salesforce during the fourth quarter worth $306,000. Institutional investors own 80.43% of the company's stock.

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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