Salesforce (NYSE:CRM) Given New $400.00 Price Target at Jefferies Financial Group

by · The Cerbat Gem

Salesforce (NYSE:CRM – Free Report) had its target price boosted by Jefferies Financial Group from $350.00 to $400.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the CRM provider’s stock.

A number of other research analysts have also weighed in on CRM. DA Davidson increased their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Oppenheimer restated an “outperform” rating and issued a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. Loop Capital restated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Robert W. Baird upped their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Wedbush increased their price target on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.80.

Read Our Latest Stock Report on Salesforce

Salesforce Trading Up 6.1 %

CRM opened at $341.74 on Monday. The firm has a market cap of $326.70 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 2.91 and a beta of 1.29. 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 12 month low of $211.76 and a 12 month high of $344.88. The stock has a fifty day moving average price of $279.53 and a 200-day moving average price of $264.83.

Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,373 shares of company stock valued at $41,250,680 in the last ninety days. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently added to or reduced their stakes in the stock. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd 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 in the last quarter. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the 2nd quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

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 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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