DA Davidson Reiterates "Underperform" Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM - Get Free Report)'s stock had its "underperform" rating restated by research analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $200.00 price target on the CRM provider's stock. DA Davidson's target price would suggest a potential downside of 24.54% from the company's previous close. DA Davidson also issued estimates for Salesforce's Q2 2026 earnings at $2.10 EPS.

Other equities research analysts have also recently issued reports about the stock. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday. Canaccord Genuity Group cut their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $343.32.

Salesforce Stock Down 0.7%

NYSE CRM traded down $1.89 during trading on Wednesday, reaching $265.03. 12,373,506 shares of the company's stock were exchanged, compared to its average volume of 6,790,605. Salesforce has a fifty-two week low of $216.06 and a fifty-two week high of $369.00. The firm has a market capitalization of $254.80 billion, a PE ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.42. 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 company's fifty day simple moving average is $267.31 and its 200-day simple moving average is $304.75.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the company posted $2.44 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Salesforce will post 7.46 EPS for the current year.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,553 shares of company stock valued at $12,897,323 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth about $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Capital A Wealth Management LLC boosted its position in Salesforce by 450.0% during the first 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 during the last quarter. 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.