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.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Oppenheimer reiterated a "buy" rating and set a $205.00 price objective on shares of Salesforce in a research report on Friday, June 17th. Barclays boosted their price objective on shares of Salesforce from $208.00 to $218.00 and gave the company an "overweight" rating in a report on Wednesday, June 1st. Jefferies Financial Group lowered their target price on shares of Salesforce from $330.00 to $260.00 in a report on Monday, May 23rd. CICC Research started coverage on Salesforce in a research report on Monday, May 9th. They set an "outperform" rating on the stock. Finally, Piper Sandler dropped their price objective on Salesforce from $250.00 to $220.00 and set an "overweight" rating for the company in a report on Monday, July 18th. Four investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $270.51.

Salesforce Stock Performance

Shares of CRM Stock opened at $182.24 on Wednesday. The stock has a market capitalization of $181.33 billion, a PE ratio of 176.93, a PEG ratio of 5.22 and a beta of 1.08. The business's 50 day simple moving average is $176.05 and its 200 day simple moving average is $188.45. 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 one year low of $154.55 and a one year high of $311.75.

Salesforce (NYSE:CRM - Get Rating) last posted its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $7.38 billion. During the same period in the prior year, the firm posted $0.74 EPS. The company's quarterly revenue was up 24.3% on a year-over-year basis. As a group, research analysts forecast that Salesforce will post 2.18 earnings per share for the current year.

Insider Activity

In related news, CEO Marc Benioff sold 2,300 shares of the firm's stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $164.36, for a total transaction of $378,028.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares of the company's stock, valued at $4,754,277,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction of $165,828.39. Following the transaction, the insider now owns 93,103 shares in the company, valued at $15,867,544.29. The sale 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 the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $164.36, for a total transaction of $378,028.00. Following the transaction, the chief executive officer now directly owns 28,926,000 shares in the company, valued at approximately $4,754,277,360. The disclosure for this sale can be found here. Insiders have sold 77,749 shares of company stock valued at $13,366,068 in the last ninety days. 3.60% of the stock is owned by company insiders.