Salesforce (NYSE:CRM) Given New $205.00 Price Target at Wells Fargo & Company

Salesforce (NYSE:CRM) had its target price upped by equities researchers at Wells Fargo & Company from $200.00 to $205.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the CRM provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 3.88% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Truist Financial downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. HSBC boosted their price target on Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. Monness Crespi & Hardt raised Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Thursday, June 18th. Wolfe Research cut Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group upgraded Salesforce from a “buy” rating to a “buy” rating in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $249.64.

Salesforce Price Performance

Shares of NYSE:CRM opened at $197.35 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $161.63 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.07 and a beta of 1.16. The firm’s 50 day moving average price is $170.92 and its 200-day moving average price is $182.62. Salesforce has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts expect that Salesforce will post 10.27 EPS for the current year.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Temasek Holdings Private Ltd grew its stake in shares of Salesforce by 3.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock worth $181,143,000 after acquiring an additional 24,332 shares in the last quarter. SFE Investment Counsel boosted its holdings in Salesforce by 82.7% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after purchasing an additional 7,871 shares during the period. Fluent Financial LLC acquired a new position in Salesforce during the 2nd quarter worth $2,265,000. Secured Retirement Advisors LLC acquired a new position in Salesforce during the 1st quarter worth $1,004,000. Finally, Janus Henderson Group PLC increased its holdings in Salesforce by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after purchasing an additional 3,125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.