Salesforce's (CRM) Outperform Rating Reiterated at Oppenheimer

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "outperform" rating restated by Oppenheimer in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $370.00 target price on the CRM provider's stock. Oppenheimer's target price would indicate a potential upside of 43.27% from the company's current price.

Several other analysts have also issued reports on the stock. UBS Group dropped their target price on shares of Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Wells Fargo & Company boosted their price target on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. DA Davidson restated an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Finally, Mizuho lowered 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Stock Performance

CRM traded down $8.66 on Tuesday, reaching $258.25. The stock had a trading volume of 7,647,008 shares, compared to its average volume of 6,545,929. Salesforce has a 12-month low of $227.77 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business's 50-day moving average price is $268.09 and its two-hundred day moving average price is $300.13. The company has a market cap of $246.89 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Salesforce will post 7.46 earnings per share for the current year.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock valued at $11,024,802 in the last ninety days. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC boosted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after buying an additional 85 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.