Salesforce (NYSE:CRM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Salesforce (NYSE:CRM - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $255.00 to $275.00 in a report released on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the CRM provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 3.76% from the company's previous close.

A number of other research firms have also recently commented on CRM. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research note on Wednesday. Loop Capital dropped their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Macquarie reaffirmed a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Oppenheimer reaffirmed an "outperform" rating and set a $370.00 price target (down from $380.00) on shares of Salesforce in a research note on Thursday. Finally, Barclays dropped their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given 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 an average rating of "Moderate Buy" and a consensus target price of $343.32.

Salesforce Price Performance

Shares of Salesforce stock traded down $1.89 during trading hours on Thursday, 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. The firm has a 50 day moving average price of $267.31 and a 200-day moving average price of $304.49. Salesforce has a one year low of $227.77 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $254.80 billion, a P/E ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the previous year, the company earned $2.44 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts predict that Salesforce will post 7.46 EPS for the current year.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 3,273 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the transaction, the insider now owns 125,146 shares of the company's stock, valued at approximately $35,614,048.68. This trade represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,553 shares of company stock worth $12,897,323 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. OMC Financial Services LTD increased its stake in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares during the period. Prossimo Advisors LLC increased its stake in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares during the period. Muirfield Wealth Advisors LLC increased its stake in shares of Salesforce by 2.3% in the fourth quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock worth $487,000 after acquiring an additional 33 shares during the period. Finally, Mainstream Capital Management LLC increased its stake in shares of Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock worth $2,143,000 after acquiring an additional 33 shares during the period. Institutional investors 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.