Salesforce (NYSE:CRM) Given New $300.00 Price Target at Loop Capital

Salesforce (NYSE:CRM) had its target price trimmed by Loop Capital from $330.00 to $300.00 in a report released on Thursday morning,Benzinga reports. They currently have a hold rating on the CRM provider’s stock.

CRM has been the topic of several other reports. The Goldman Sachs Group raised their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.32.

Salesforce Stock Performance

NYSE CRM opened at $297.63 on Thursday. The stock has a market cap of $284.83 billion, a PE ratio of 48.95, a P/E/G ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50-day moving average of $329.11 and a 200-day moving average of $307.58. Salesforce has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock worth $381,283,706. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRM. Park Square Financial Group LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $190,000. Total Wealth Planning & Management Inc. bought a new position in shares of Salesforce in the 4th quarter worth $284,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Salesforce in the 4th quarter valued at $392,649,000. Brooklyn FI LLC bought a new stake in Salesforce during the 4th quarter valued at $2,921,000. Finally, Brucke Financial Inc. acquired a new position in Salesforce during the fourth quarter worth $1,449,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.