Salesforce Inc. (NYSE:CRM - Get Free Report) rose 3.7% during trading on Friday . The stock traded as high as $175.97 and last traded at $173.7720. Approximately 13,548,916 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 12,873,862 shares. The stock had previously closed at $167.58.
Trending Headlines about Salesforce
Here are the key news stories impacting Salesforce this week:
Wall Street Analyst Weigh In
CRM has been the topic of several research reports. Northland Securities cut their price target on shares of Salesforce from $267.00 to $229.00 and set a "market perform" rating on the stock in a report on Tuesday, March 10th. Jefferies Financial Group cut their price target on shares of Salesforce from $375.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Piper Sandler lowered their price objective on shares of Salesforce from $250.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. KeyCorp lowered their price objective on shares of Salesforce from $400.00 to $300.00 and set an "overweight" rating for the company in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Salesforce from $235.00 to $210.00 and set an "equal weight" rating for the company in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have assigned a Hold rating and one has 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 $278.82.
Read Our Latest Analysis on Salesforce
Salesforce Price Performance
The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.76. The company's 50-day simple moving average is $184.56 and its 200-day simple moving average is $215.95. The company has a market cap of $142.18 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 1.15 and a beta of 1.14.
Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $11.18 billion. During the same quarter in the previous year, the firm earned $2.78 earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, equities research analysts anticipate that Salesforce Inc. will post 9.71 EPS for the current year.
Salesforce Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were paid a dividend of $0.44 per share. This is a positive change from Salesforce's previous quarterly dividend of $0.42. The ex-dividend date was Thursday, April 9th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Salesforce's payout ratio is currently 22.54%.
Salesforce declared that its board has approved a share buyback plan on Monday, March 16th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other Salesforce news, Director David Blair Kirk acquired 2,570 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $194.62 per share, with a total value of $500,173.40. Following the completion of the acquisition, the director directly owned 13,689 shares in the company, valued at $2,664,153.18. This trade represents a 23.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Laura Alber acquired 2,571 shares of the firm's stock in a transaction on Thursday, March 19th. The stock was acquired at an average cost of $194.58 per share, with a total value of $500,265.18. Following the acquisition, the director owned 9,530 shares of the company's stock, valued at $1,854,347.40. This trade represents a 36.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.00% of the company's stock.
Hedge Funds Weigh In On Salesforce
A number of hedge funds have recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in Salesforce in the first quarter worth $235,000. Delta Global Management LP acquired a new position in Salesforce in the first quarter worth $4,688,000. Everest Financial Group LLC boosted its holdings in Salesforce by 3.9% in the first quarter. Everest Financial Group LLC now owns 34,532 shares of the CRM provider's stock worth $6,442,000 after purchasing an additional 1,282 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in Salesforce by 16.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 105,170 shares of the CRM provider's stock worth $19,632,000 after purchasing an additional 14,586 shares during the period. Finally, Van Diest Capital LLC boosted its holdings in Salesforce by 70.7% in the first quarter. Van Diest Capital LLC now owns 4,369 shares of the CRM provider's stock worth $815,000 after purchasing an additional 1,809 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.
Salesforce Company Profile
(
Get Free Report)
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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