Salesforce (NYSE:CRM) Stock Price Expected to Rise, Macquarie Analyst Says

by · The Cerbat Gem

Salesforce (NYSE:CRM – Get Free Report) had its price target upped by equities researchers at Macquarie from $250.00 to $265.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the CRM provider’s stock. Macquarie’s price target would indicate a potential upside of 1.62% from the stock’s previous close.

CRM has been the topic of several other reports. Citigroup reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday. Northland Capmk downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Salesforce in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday. Finally, Bank of America dropped their price target on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Twenty-nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.54.

View Our Latest Report on CRM

Salesforce Stock Performance

Shares of NYSE CRM opened at $260.78 on Thursday. Salesforce has a 12-month low of $221.96 and a 12-month high of $367.15. The firm has a market capitalization of $248.26 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 1.94 and a beta of 1.25. The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $243.26 and a 200 day moving average of $252.88.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.39. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The business had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period last year, the firm earned $2.41 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, research analysts anticipate that Salesforce will post 7.46 earnings per share for the current year.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 134,662 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the transaction, the insider owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This represents a 49.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $251.12, for a total value of $565,020.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,991,233,709.52. This trade represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 184,284 shares of company stock valued at $43,862,999. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Salesforce by 0.8% in the third quarter. Vanguard Group Inc. now owns 89,572,253 shares of the CRM provider’s stock valued at $21,228,624,000 after buying an additional 748,772 shares during the last quarter. State Street Corp increased its holdings in shares of Salesforce by 0.3% during the third quarter. State Street Corp now owns 49,420,657 shares of the CRM provider’s stock valued at $11,732,966,000 after acquiring an additional 159,739 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Salesforce by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock valued at $5,669,224,000 after purchasing an additional 114,504 shares during the last quarter. Capital International Investors boosted its stake in Salesforce by 9.4% in the 3rd quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock worth $4,753,519,000 after purchasing an additional 1,729,440 shares in the last quarter. Finally, Capital World Investors grew its position in Salesforce by 159.0% during the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock worth $4,106,255,000 after purchasing an additional 10,636,161 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

About Salesforce

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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.

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