Salesforce (NYSE:CRM) Stock Rating Upgraded by Monness Crespi & Hardt

by · The Markets Daily

Salesforce (NYSE:CRM – Get Free Report) was upgraded by equities research analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a report released on Thursday, Marketbeat.com reports. The firm currently has a $200.00 target price on the CRM provider’s stock. Monness Crespi & Hardt’s price objective points to a potential upside of 29.13% from the stock’s current price.

A number of other analysts also recently issued reports on CRM. Oppenheimer dropped their price target on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. UBS Group reaffirmed a “neutral” rating on shares of Salesforce in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Salesforce from $365.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Daiwa Securities Group dropped their target price on shares of Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Finally, B. Riley Financial raised their target price on shares of Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $257.61.

Check Out Our Latest Report on CRM

Salesforce Trading Down 4.2%

Salesforce stock opened at $154.88 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. Salesforce has a one year low of $154.23 and a one year high of $276.80. The stock has a market capitalization of $126.85 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. The business’s fifty day moving average is $178.54 and its 200 day moving average is $205.28.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same period last year, the firm posted $2.58 earnings per share. Salesforce’s 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. On average, sell-side analysts predict that Salesforce will post 10.29 EPS for the current year.

Salesforce declared that its board has initiated a share repurchase program on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to buy up to 14.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRM. Commonwealth Retirement Investments LLC purchased a new position in Salesforce during the fourth quarter valued at $25,000. Board of the Pension Protection Fund bought a new position in shares of Salesforce during the 4th quarter valued at approximately $26,000. Key Capital Management INC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $26,000. Finally, Legacy Bridge LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Key Stories Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

Salesforce Company Profile

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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.

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