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 Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Salesforce from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, June 1st. Piper Sandler decreased their target price on Salesforce from $250.00 to $220.00 and set an "overweight" rating on the stock in a research note on Monday, July 18th. Guggenheim initiated coverage on Salesforce in a research report on Friday. They issued a "sell" rating and a $150.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Salesforce from $300.00 to $260.00 in a research report on Wednesday, June 1st. Finally, Cowen reduced their target price on shares of Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and one has assigned 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 target price of $267.50.

Salesforce Price Performance

Shares of NYSE:CRM opened at $191.06 on Tuesday. Salesforce has a 12 month low of $154.55 and a 12 month high of $311.75. The firm has a market capitalization of $190.10 billion, a price-to-earnings ratio of 185.50, a price-to-earnings-growth ratio of 5.21 and a beta of 1.08. The business's 50 day simple moving average is $176.53 and its 200-day simple moving average is $187.46. 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 (NYSE:CRM - Get Rating) last announced its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The business had revenue of $7.41 billion during the quarter, compared to analysts' expectations of $7.38 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business's revenue for the quarter was up 24.3% on a year-over-year basis. As a group, equities analysts forecast that Salesforce will post 2.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,300 shares of the firm's stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $157.52, for a total transaction of $362,296.00. Following the completion of the transaction, the chief executive officer now directly owns 28,926,000 shares of the company's stock, valued at approximately $4,556,423,520. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 568 shares of the business's stock in a transaction on Monday, July 25th. The stock was sold at an average price of $177.87, for a total value of $101,030.16. Following the completion of the transaction, the insider now directly owns 93,650 shares in the company, valued at approximately $16,657,525.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,300 shares of the firm's stock in a transaction on Friday, May 20th. The stock was sold at an average price of $157.52, for a total value of $362,296.00. Following the sale, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,556,423,520. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,749 shares of company stock worth $13,470,994. Insiders own 3.60% of the company's stock.