Salesforce (NYSE:CRM) Price Target Raised to $210.00

Key Points

• UBS Group raised Salesforce’s price target from $185 to $210 while maintaining a neutral rating, implying approximately 7.3% upside from the stock’s reported price.
• Analyst sentiment remains broadly positive but mixed: Salesforce has a MarketBeat consensus rating of “Moderate Buy” and an average price target of $250.28, based on 25 Buy, 16 Hold, 4 Sell, and 2 Strong Buy ratings.
• Salesforce exceeded quarterly expectations, reporting $3.88 in adjusted EPS versus a $3.13 consensus estimate and $11.13 billion in revenue, up 13.3% year over year. Institutional investors own approximately 80.43% of the company’s shares.

Salesforce (NYSE:CRM - Get Free Report) had its price objective boosted by research analysts at UBS Group from $185.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the CRM provider's stock. UBS Group's target price would indicate a potential upside of 7.29% from the company's current price.

A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets cut their price target on Salesforce from $225.00 to $215.00 and set an "outperform" rating for the company in a report on Thursday, May 28th. HC Wainwright downgraded shares of Salesforce to a "negative" rating in a research note on Thursday, June 18th. Barclays raised shares of Salesforce from an "overweight" rating to an "overweight" rating in a research note on Thursday, June 18th. Canaccord Genuity Group reiterated a "buy" rating and set a $225.00 price target on shares of Salesforce in a report on Tuesday, June 16th. Finally, Bank of America started coverage on shares of Salesforce in a research report on Monday, May 18th. They issued an "underperform" rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $250.28.

Salesforce Stock Down 0.9%

CRM stock opened at $195.73 on Wednesday. The company's 50 day simple moving average is $170.92 and its 200-day simple moving average is $182.62. The firm has a market capitalization of $160.31 billion, a PE ratio of 22.38, a P/E/G ratio of 1.07 and a beta of 1.16. Salesforce has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same period last year, the company posted $2.58 EPS. The company's revenue was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities analysts expect that Salesforce will post 10.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRM. Westpac Banking Corp acquired a new position in Salesforce during the 2nd quarter worth approximately $922,000. TRB Wealth Management LLC purchased a new position in Salesforce in the second quarter valued at about $209,000. Sumitomo Life Insurance Co. acquired a new stake in Salesforce during the 2nd quarter valued at approximately $754,000. William Blair Investment Management LLC acquired a new stake in Salesforce during the 2nd quarter valued at approximately $4,080,000. Finally, Korea Investment CORP purchased a new stake in Salesforce during the 2nd quarter worth approximately $83,269,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

About Salesforce

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source