Salesforce (NYSE:CRM) Stock Price Up 1.6% - What's Next?

Key Points

• Salesforce shares rose 1.6% to about $238.47 on Wednesday, with volume of ~12.47 million shares—about a 61% increase versus the average daily volume.
• Analysts maintain a consensus rating of Moderate Buy with an average price target of $325.42, though recent firm targets and ratings vary widely (roughly $250–$375) and some firms have trimmed targets.
• Salesforce beat expectations for the latest quarter (EPS $2.91 vs. $2.78 estimate; revenue $10.24B, +9.8% y/y) and pays a quarterly dividend of $0.416 (0.7% yield). Insiders sold about 186,534 shares (~$44.4M) in the last quarter, representing 3.00% insider ownership overall.

Salesforce Inc. (NYSE:CRM - Get Free Report)'s share price rose 1.6% on Wednesday . The company traded as high as $239.26 and last traded at $238.4650. Approximately 12,470,397 shares changed hands during trading, an increase of 61% from the average daily volume of 7,724,326 shares. The stock had previously closed at $234.71.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Robert W. Baird reduced their price objective on Salesforce from $365.00 to $325.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Northland Capmk lowered Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 14th. Macquarie reiterated a "neutral" rating and issued a $250.00 price objective on shares of Salesforce in a research note on Thursday, October 16th. Wedbush reissued an "outperform" rating and set a $375.00 price objective on shares of Salesforce in a research report on Thursday, October 16th. Finally, Wells Fargo & Company reduced their target price on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a report on Thursday, September 4th. Twenty-six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $325.42.

Salesforce Price Performance

The stock has a market capitalization of $227.02 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 1.83 and a beta of 1.25. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $242.92 and a 200-day moving average of $253.21.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the firm earned $2.56 EPS. The company's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were paid a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce's dividend payout ratio is currently 24.13%.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 122 shares of the business's stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $259.00, for a total value of $31,598.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $3,085,096,889. The trade was a 0.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 134,662 shares of the company's stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the completion of the sale, the insider directly owned 139,767 shares of the company's stock, valued at approximately $32,803,314.90. This trade represents a 49.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 186,534 shares of company stock worth $44,406,374 in the last quarter. Insiders own 3.00% of the company's stock.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the business. Painted Porch Advisors LLC raised its holdings in shares of Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock valued at $25,000 after buying an additional 65 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in Salesforce in the 2nd quarter valued at about $27,000. Marquette Asset Management LLC acquired a new position in Salesforce in the 3rd quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its stake in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares during the last quarter. Finally, Christopher J. Hasenberg Inc lifted its position in Salesforce by 383.3% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider's stock worth $32,000 after acquiring an additional 92 shares during the period. Hedge funds and other 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.

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.