Salesforce, Inc. (NYSE:CRM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Salesforce, Inc. (NYSE:CRM) have been given a consensus rating of “Moderate Buy” by the forty-two research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, thirty-one have assigned a buy recommendation and five have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $362.74.

Several research analysts recently commented on the company. Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley boosted their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Macquarie reiterated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 over the last ninety days. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 0.1 %

Shares of CRM opened at $279.07 on Friday. The stock’s 50-day moving average is $314.23 and its two-hundred day moving average is $309.29. The stock has a market cap of $268.19 billion, a PE ratio of 45.90, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

About Salesforce

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.