UBS Group Has Lowered Expectations for Salesforce (NYSE:CRM) Stock Price

Salesforce (NYSE:CRM - Get Free Report) had its target price lowered by analysts at UBS Group from $320.00 to $300.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the CRM provider's stock. UBS Group's target price would indicate a potential upside of 8.06% from the stock's current price.

CRM has been the topic of a number of other research reports. Stephens began coverage on Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target on the stock. Macquarie reiterated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Scotiabank reduced their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Finally, Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $349.87.

Salesforce Price Performance

Shares of CRM traded up $4.50 during mid-day trading on Tuesday, hitting $277.63. 6,118,217 shares of the company traded hands, compared to its average volume of 6,918,555. 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 stock has a market capitalization of $266.91 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 2.58 and a beta of 1.42. The business has a 50-day moving average of $268.33 and a 200 day moving average of $306.20. Salesforce has a one year low of $212.00 and a one year high of $369.00.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated 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 of the company's stock, valued at $14,071,750. This trade represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider now owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,553 shares of company stock valued at $12,897,323 over the last 90 days. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $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. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at $30,000. Finally, Capital A Wealth Management LLC raised its stake in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds 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.

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