Salesforce (NYSE:CRM) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Salesforce (NYSE:CRM) had its target price raised by stock analysts at BMO Capital Markets from $305.00 to $385.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the CRM provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 16.12% from the stock’s current price.

CRM has been the subject of a number of other reports. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. TD Cowen lifted their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

Salesforce Stock Performance

Shares of CRM stock opened at $331.56 on Friday. 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 quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $316.97 billion, a price-to-earnings ratio of 57.66, a PEG ratio of 3.09 and a beta of 1.29. The stock’s 50-day moving average is $283.28 and its two-hundred day moving average is $265.84.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Analysts predict that Salesforce will post 7.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock worth $41,250,680 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

Several large investors have recently modified their holdings of the stock. Piscataqua Savings Bank grew its position in shares of Salesforce by 2,400.0% in 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 acquired a new position in Salesforce in the third quarter worth $27,000. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth about $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

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.