Salesforce - CRM Stock Forecast, Price & News

Salesforce, Inc. provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale. Its service offerings also comprise flexible platform that enables companies of various sizes, locations, and industries to build business apps to bring them closer to their customers with drag-and-drop tools; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, a system of engagement. In addition, the company's service offerings include Marketing offering that enables companies to plan, personalize, and optimize one-to-one customer marketing journeys; and Commerce offering, which empowers brands to unify the customer experience across mobile, web, social, and store commerce points. Further, its service offerings comprise Tableau, an end-to-end analytics solution serving various enterprise use cases; and MuleSoft, an integration offering that allows its customers to unlock data across their enterprise. The company provides its service offering for customers in financial services, healthcare and life sciences, manufacturing, and other industries. It also offers professional services; and in-person and online courses to certify its customers and partners on architecting, administering, deploying, and developing its service offerings. The company provides its services through direct sales; and consulting firms, systems integrators, and other partners. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. Robert W. Baird dropped their price target on Salesforce from $300.00 to $260.00 and set an "outperform" rating for the company in a research report on Wednesday, June 1st. BMO Capital Markets dropped their price target on Salesforce from $260.00 to $225.00 in a research report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Salesforce from $300.00 to $260.00 in a research report on Wednesday, June 1st. Citigroup lifted their price objective on Salesforce to $192.00 in a research report on Friday, June 3rd. Finally, KeyCorp dropped their price objective on Salesforce from $281.00 to $223.00 and set an "overweight" rating for the company in a research report on Monday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $267.50.

Salesforce Stock Up 1.7 %

Salesforce stock traded up $3.16 during midday trading on Friday, hitting $189.89. 3,817,551 shares of the company were exchanged, compared to its average volume of 7,262,637. The company's fifty day moving average price is $176.27 and its 200-day moving average price is $188.20. The company has a market cap of $188.94 billion, a PE ratio of 184.36, a price-to-earnings-growth ratio of 5.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.03. Salesforce has a fifty-two week low of $154.55 and a fifty-two week high of $311.75.

Salesforce (NYSE:CRM - Get Rating) last released its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.38 billion. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. Salesforce's revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts predict that Salesforce will post 2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $159.39, for a total transaction of $366,597.00. Following the sale, the chief executive officer now directly owns 28,926,000 shares in the company, valued at approximately $4,610,515,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CRO Gavin Patterson sold 1,273 shares of Salesforce stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $216,957.39. Following the sale, the executive now directly owns 16,263 shares in the company, valued at approximately $2,771,703.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $159.39, for a total value of $366,597.00. Following the sale, the chief executive officer now owns 28,926,000 shares in the company, valued at $4,610,515,140. The disclosure for this sale can be found here. Insiders have sold 80,049 shares of company stock worth $13,849,022 in the last three months. 3.60% of the stock is owned by insiders.