Salesforce (NYSE:CRM) Receives "Sector Perform" Rating from Royal Bank Of Canada

Key Points

• Salesforce received a "Sector Perform" rating from Royal Bank of Canada, with a target price of $275.00, indicating a potential upside of 13.35% from its current price.
• Analysts' ratings for Salesforce vary, with two sell ratings, nine hold ratings, and twenty-seven buy ratings, resulting in a consensus rating of "Moderate Buy" and a price target of $346.68.
• In the recent quarter, Salesforce reported $2.58 EPS, exceeding estimates, alongside a revenue increase of 7.6% year-over-year, totaling $9.83 billion.

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "sector perform" rating reissued by analysts at Royal Bank Of Canada in a report released on Monday,Benzinga reports. They currently have a $275.00 target price on the CRM provider's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 13.35% from the company's current price.

Several other analysts have also issued reports on CRM. DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a research report on Friday. Stifel Nicolaus reduced their price target on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Mizuho reduced their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Westpark Capital reiterated a "buy" rating and set a $320.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Finally, Northland Securities reduced their price target on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned 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 price target of $346.68.

Salesforce Stock Up 0.1%

CRM traded up $0.18 during trading on Monday, reaching $242.62. 2,996,992 shares of the stock were exchanged, compared to its average volume of 7,198,886. The stock has a market cap of $231.94 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.20 and a beta of 1.37. Salesforce has a twelve month low of $226.48 and a twelve month high of $369.00. The stock's 50 day moving average price is $260.41 and its two-hundred day moving average price is $274.82. 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 announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the prior year, the business earned $2.44 EPS. Salesforce's quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts expect that Salesforce will post 7.46 EPS for the current year.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $234.64, for a total value of $527,940.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $2,794,931,019.44. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 46,532 shares of company stock valued at $12,082,694 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $27,000. Painted Porch Advisors LLC grew its holdings in shares of Salesforce by 260.0% during the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock valued at $25,000 after purchasing an additional 65 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $35,000. Finally, Capital A Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds 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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