Salesforce (NYSE:CRM) Upgraded to “Strong-Buy” at StockNews.com

Salesforce (NYSE:CRMGet Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company downgraded shares of Salesforce from an “overweight” rating to an “equal weight” rating and set a $280.00 target price on the stock. in a research report on Wednesday, December 20th. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. BMO Capital Markets boosted their price target on shares of Salesforce from $252.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. Bank of America boosted their price target on shares of Salesforce from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target for the company in a research note on Monday, December 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $264.03.

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Salesforce Trading Down 1.3 %

NYSE:CRM traded down $3.76 during mid-day trading on Monday, hitting $287.54. 3,749,198 shares of the company’s stock were exchanged, compared to its average volume of 5,104,128. The company has a 50 day simple moving average of $269.19 and a 200-day simple moving average of $233.05. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce has a fifty-two week low of $159.65 and a fifty-two week high of $295.24. The firm has a market capitalization of $278.34 billion, a P/E ratio of 109.33, a PEG ratio of 1.87 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last posted its earnings results on Wednesday, November 29th. The CRM provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.71 billion. Salesforce had a net margin of 7.63% and a return on equity of 9.19%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. As a group, research analysts expect that Salesforce will post 6.02 earnings per share for the current year.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $220.94, for a total value of $3,314,100.00. Following the transaction, the chief executive officer now owns 14,876,166 shares in the company, valued at $3,286,740,116.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $220.94, for a total value of $3,314,100.00. Following the completion of the sale, the chief executive officer now owns 14,876,166 shares of the company’s stock, valued at $3,286,740,116.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 2,628 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $224.85, for a total value of $590,905.80. Following the completion of the sale, the chief financial officer now directly owns 37,048 shares of the company’s stock, valued at approximately $8,330,242.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,398,178 shares of company stock worth $370,039,975. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently modified their holdings of CRM. Norges Bank bought a new stake in Salesforce in the 4th quarter worth about $1,420,381,000. Moneta Group Investment Advisors LLC increased its holdings in Salesforce by 125,717.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after buying an additional 10,252,257 shares in the last quarter. Capital International Investors increased its holdings in Salesforce by 1,151.2% in the 2nd quarter. Capital International Investors now owns 7,117,212 shares of the CRM provider’s stock worth $1,503,547,000 after buying an additional 6,548,396 shares in the last quarter. Capital World Investors increased its holdings in Salesforce by 30.2% in the 2nd quarter. Capital World Investors now owns 19,242,436 shares of the CRM provider’s stock worth $4,065,157,000 after buying an additional 4,458,227 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after purchasing an additional 3,226,512 shares during the period. 77.52% of the stock is currently owned by institutional investors.

Salesforce Company Profile

(Get Free Report)

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 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.

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