Salesforce's (CRM) "Outperform" Rating Reaffirmed at Wedbush

Key Points

• Wedbush has reaffirmed its "outperform" rating for Salesforce (CRM) with a price target of $375.00, indicating a potential upside of 48.49% from current levels.
• Salesforce reported earnings of $2.91 per share in its latest quarter, surpassing analyst expectations, along with a revenue of $10.24 billion, up 9.8% year-over-year.
• Despite recent downgrades from some analysts, Salesforce maintains a consensus rating of "Moderate Buy", with 25 Buy ratings, 13 Holds, and 1 Sell rating among analysts.

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Wedbush in a report issued on Thursday,Benzinga reports. They currently have a $375.00 price target on the CRM provider's stock. Wedbush's target price suggests a potential upside of 48.49% from the stock's current price.

A number of other brokerages have also recently commented on CRM. Northland Securities cut shares of Salesforce from an "outperform" rating to a "market perform" rating and set a $264.00 target price on the stock. in a report on Tuesday. Canaccord Genuity Group dropped their price target on Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Roth Capital reiterated a "buy" rating and set a $395.00 price objective on shares of Salesforce in a research note on Thursday, September 4th. Oppenheimer lowered their price target on Salesforce from $370.00 to $315.00 and set an "outperform" rating for the company in a research report on Tuesday, August 26th. Finally, Northland Capmk downgraded shares of Salesforce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Twenty-five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $326.83.

Salesforce Stock Performance

Salesforce stock opened at $252.53 on Thursday. The company has a market capitalization of $240.41 billion, a PE ratio of 36.68, a P/E/G ratio of 2.07 and a beta of 1.19. Salesforce has a twelve month low of $226.48 and a twelve month high of $369.00. The firm has a fifty day simple moving average of $244.22 and a two-hundred day simple moving average of $258.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the previous year, the company earned $2.56 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Research analysts expect that Salesforce will post 7.46 EPS for the current year.

Insider Transactions at Salesforce

In other news, Director David Blair Kirk bought 3,400 shares of the stock in a transaction on Tuesday, September 9th. The stock was bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the purchase, the director directly owned 3,824 shares in the company, valued at approximately $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $236.45, for a total transaction of $532,012.50. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,816,490,962.95. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,750 shares of company stock worth $19,572,233. Company insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Painted Porch Advisors LLC increased its stake in Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock worth $25,000 after buying an additional 65 shares in the last quarter. Evolution Wealth Management Inc. purchased a new position in Salesforce in the 2nd quarter valued at $27,000. Capital A Wealth Management LLC lifted its holdings in 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 purchasing an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted 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 worth $30,000 after purchasing an additional 85 shares during the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Salesforce during the first quarter worth $31,000. 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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