Salesforce (NYSE:CRM) Upgraded by Erste Group Bank to Buy Rating

Salesforce (NYSE:CRM) was upgraded by Erste Group Bank from a “hold” rating to a “buy” rating in a report released on Tuesday,Benzinga reports.

A number of other research analysts have also issued reports on the stock. Bank of America upped their price target on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Morgan Stanley lifted their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group increased their target price on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.19.

Salesforce Trading Up 0.7 %

CRM stock opened at $325.70 on Tuesday. Salesforce has a 1-year low of $212.00 and a 1-year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $291.21 and a two-hundred day simple moving average of $267.72. The company has a market capitalization of $311.37 billion, a price-to-earnings ratio of 56.64, a PEG ratio of 2.94 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. Research analysts anticipate that Salesforce will post 7.55 EPS for the current fiscal year.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now owns 3,716 shares in the company, valued at $977,122.20. The trade was a 44.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,117 shares of company stock valued at $39,085,562 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter valued at approximately $27,000. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at $33,000. 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.