Salesforce (NYSE:CRM) Given New $309.00 Price Target at Stephens

Salesforce (NYSE:CRM - Get Free Report) had its price target dropped by investment analysts at Stephens from $311.00 to $309.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the CRM provider's stock. Stephens' target price would indicate a potential upside of 16.59% from the stock's current price.

Other research analysts have also issued research reports about the stock. Citigroup reaffirmed an "outperform" rating on shares of Salesforce in a research note on Wednesday. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Oppenheimer restated an "outperform" rating and set a $370.00 target price (down from $380.00) on shares of Salesforce in a report on Thursday. BMO Capital Markets dropped their target price on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, May 27th. Finally, Canaccord Genuity Group dropped their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $343.32.

Salesforce Price Performance

Shares of CRM stock traded down $1.89 during mid-day trading on Friday, reaching $265.03. The company's stock had a trading volume of 12,373,506 shares, compared to its average volume of 6,670,055. Salesforce has a 1-year low of $227.77 and a 1-year high of $369.00. The company has a market cap of $254.80 billion, a P/E ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm's 50-day moving average is $267.31 and its two-hundred day moving average is $304.49.

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

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 705 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the sale, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,553 shares of company stock valued at $12,897,323. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. OMC Financial Services LTD increased its holdings in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Prossimo Advisors LLC increased its holdings in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Muirfield Wealth Advisors LLC increased its holdings in Salesforce by 2.3% in the 4th quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock valued at $487,000 after purchasing an additional 33 shares in the last quarter. Finally, Mainstream Capital Management LLC increased its holdings in Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after purchasing an additional 33 shares in the last quarter. 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.