Salesforce (NYSE:CRM) Price Target Lowered to $335.00 at BMO Capital Markets

Salesforce (NYSE:CRM - Get Free Report) had its target price lowered by stock analysts at BMO Capital Markets from $350.00 to $335.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the CRM provider's stock. BMO Capital Markets' price target points to a potential upside of 25.67% from the company's previous close.

A number of other equities analysts have also recently commented on CRM. Citigroup dropped their price target on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Sanford C. Bernstein lifted their price target on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Canaccord Genuity Group decreased their price objective on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, Wells Fargo & Company boosted their price target on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $348.68.

Salesforce Price Performance

Shares of NYSE:CRM traded down $4.36 on Thursday, reaching $266.56. The company's stock had a trading volume of 3,451,383 shares, compared to its average volume of 6,528,802. Salesforce has a 52-week low of $230.00 and a 52-week high of $369.00. The company has a market cap of $254.84 billion, a P/E ratio of 41.76, a PEG ratio of 2.48 and a beta of 1.36. The company has a 50-day simple moving average of $272.54 and a 200 day simple moving average of $290.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data 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 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 last year, the company posted $2.44 EPS. The business's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 1,269 shares of Salesforce stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $332,922.15. Following the sale, the insider directly owned 42,678 shares in the company, valued at approximately $11,196,573.30. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $270.82, for a total value of $609,345.00. Following the transaction, the chief executive officer directly owned 11,862,457 shares in the company, valued at $3,212,590,604.74. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,034 shares of company stock valued at $8,833,235 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Salesforce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after acquiring an additional 1,383,942 shares during the last quarter. Geode Capital Management LLC increased its stake in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after acquiring an additional 175,035 shares during the last quarter. Northern Trust Corp increased its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Norges Bank bought a new position in Salesforce in the 4th quarter worth about $3,599,867,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Salesforce by 6.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock worth $2,484,616,000 after acquiring an additional 600,386 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

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.

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