Wells Fargo & Company Lowers Salesforce (NYSE:CRM) Price Target to $265.00

Key Points

• Wells Fargo has lowered Salesforce's price target from $275.00 to $265.00, maintaining an "equal weight" rating on the stock, indicating a potential upside of 3.16% from its previous close.
• Other firms, including Oppenheimer and Citigroup, have also adjusted their price targets and ratings for Salesforce, with an average price target now standing at $335.91.
• Salesforce reported a quarterly EPS of $2.91, surpassing expectations, with revenue of $10.24 billion, marking a 9.8% year-over-year growth.

Salesforce (NYSE:CRM - Get Free Report) had its price objective decreased by equities researchers at Wells Fargo & Company from $275.00 to $265.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the CRM provider's stock. Wells Fargo & Company's target price suggests a potential upside of 3.16% from the stock's previous close.

CRM has been the topic of several other reports. Oppenheimer reduced their target price on Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a report on Tuesday, August 26th. Citigroup reaffirmed a "neutral" rating on shares of Salesforce in a report on Thursday, August 28th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday. KeyCorp reduced their price objective on Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $335.91.

Salesforce Price Performance

NYSE:CRM opened at $256.87 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $256.61 and its two-hundred day simple moving average is $268.18. The stock has a market cap of $245.57 billion, a PE ratio of 40.20, a P/E/G ratio of 2.33 and a beta of 1.22. Salesforce has a 52 week low of $226.48 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, analysts forecast that Salesforce will post 7.46 EPS for the current fiscal year.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $3,061,511,978.42. This trade represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 63,827 shares of company stock valued at $16,342,398. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Brighton Jones LLC raised its stake in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after purchasing an additional 184 shares in the last quarter. Algert Global LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $280,000. Finally, CoreCap Advisors LLC increased its stake in shares of Salesforce by 38.2% in the 4th quarter. CoreCap Advisors LLC now owns 1,740 shares of the CRM provider's stock valued at $582,000 after purchasing an additional 481 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.

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