Salesforce (NYSE:CRM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised Salesforce’s price target from $200 to $205 while maintaining an “equal weight” rating, implying 3.88% upside from the prior close.
• Analyst sentiment remains broadly positive, with Salesforce holding a “Moderate Buy” consensus rating and an average price target of $249.64.
• Salesforce exceeded quarterly expectations, reporting $3.88 in EPS versus the $3.13 consensus and $11.13 billion in revenue, up 13.3% year over year.

Salesforce (NYSE:CRM - Get Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $200.00 to $205.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the CRM provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 3.88% from the stock's previous close.

Several other research firms have also recently weighed in on CRM. Daiwa Securities Group cut their price target on shares of Salesforce from $295.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, June 2nd. Wedbush initiated coverage on shares of Salesforce in a report on Wednesday, July 1st. They set an "outperform" rating on the stock. Barclays raised shares of Salesforce from an "overweight" rating to an "overweight" rating in a research report on Thursday, June 18th. Bank of America initiated coverage on shares of Salesforce in a research note on Monday, May 18th. They issued an "underperform" rating and a $160.00 price target for the company. Finally, Phillip Securities lowered shares of Salesforce from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $253.00 to $166.00 in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.64.

Salesforce Stock Down 0.1%

NYSE CRM opened at $197.35 on Wednesday. Salesforce has a 1 year low of $146.32 and a 1 year high of $269.11. The stock has a market capitalization of $161.63 billion, a PE ratio of 22.84, a PEG ratio of 1.07 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The business's 50-day moving average is $170.92 and its 200 day moving average is $182.62.

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

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently bought and sold shares of CRM. Commonwealth Retirement Investments LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $25,000. Key Capital Management INC bought a new stake in Salesforce in the 4th quarter worth approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter valued at $26,000. Persistent Asset Partners Ltd purchased a new stake in Salesforce during the 2nd quarter valued at $27,000. Finally, Costello Asset Management INC lifted its holdings in shares of Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock valued at $28,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Company Profile

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.

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