Salesforce’s (CRM) “Market Outperform” Rating Reaffirmed at JMP Securities

Salesforce (NYSE:CRM)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $450.00 price objective on the CRM provider’s stock. JMP Securities’ target price would suggest a potential upside of 33.84% from the stock’s previous close.

A number of other research firms have also issued reports on CRM. Phillip Securities restated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Oppenheimer restated an “outperform” rating and set a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Loop Capital lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.86.

Salesforce Stock Performance

Salesforce stock opened at $336.23 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a fifty day moving average price of $322.03 and a two-hundred day moving average price of $278.26. The company has a market cap of $321.77 billion, a PE ratio of 55.30, a P/E/G ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Research analysts expect that Salesforce will post 7.48 earnings per share for the current year.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,298 shares of company stock valued at $39,903,781 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at $27,000. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC boosted its stake 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 acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter valued at about $33,000. Finally, Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

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.