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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Salesforce in a research note on Wednesday, June 1st. Stifel Nicolaus dropped their target price on Salesforce from $300.00 to $250.00 in a research report on Wednesday, June 1st. CICC Research started coverage on Salesforce in a research report on Monday, May 9th. They issued an "outperform" rating for the company. Wells Fargo & Company increased their price objective on Salesforce from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, June 1st. Finally, JPMorgan Chase & Co. reduced their target price on Salesforce from $316.00 to $275.00 in a report on Wednesday, June 1st. Four research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $270.51.

Salesforce Stock Up 3.5 %

Shares of Salesforce stock opened at $188.61 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce has a 12-month low of $154.55 and a 12-month high of $311.75. The company has a market cap of $187.67 billion, a P/E ratio of 183.12, a PEG ratio of 5.22 and a beta of 1.08. The company's fifty day simple moving average is $176.05 and its two-hundred day simple moving average is $188.45.

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

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 973 shares of the company's stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total value of $165,828.39. Following the sale, the insider now owns 93,103 shares in the company, valued at $15,867,544.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $182.29, for a total transaction of $419,267.00. Following the completion of the sale, the chief executive officer now directly owns 27,761,368 shares in the company, valued at approximately $5,060,619,772.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 973 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $165,828.39. Following the sale, the insider now owns 93,103 shares in the company, valued at approximately $15,867,544.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,749 shares of company stock worth $13,415,955. 3.60% of the stock is owned by corporate insiders.