Salesforce (NYSE:CRM) Receives Outperform Rating from Wedbush

Salesforce (NYSE:CRM)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research note issued to investors on Thursday,Benzinga reports. They currently have a $375.00 price target on the CRM provider’s stock. Wedbush’s price target indicates a potential upside of 57.26% from the stock’s current price.

Several other equities analysts also recently commented on the company. Wall Street Zen raised Salesforce from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Barclays reaffirmed an “overweight” rating on shares of Salesforce in a report on Thursday. Citigroup reissued an “outperform” rating on shares of Salesforce in a report on Thursday. Mizuho decreased their price target on shares of Salesforce from $350.00 to $340.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Twenty-seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.86.

Salesforce Stock Up 1.6%

CRM stock opened at $238.47 on Thursday. Salesforce has a 1-year low of $221.96 and a 1-year high of $369.00. The business’s 50 day simple moving average is $242.78 and its 200 day simple moving average is $253.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $227.02 billion, a PE ratio of 34.66, a PEG ratio of 1.83 and a beta of 1.25.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the previous year, the business posted $2.41 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, research analysts anticipate that Salesforce will post 7.46 EPS for the current year.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 122 shares of Salesforce stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total value of $31,598.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,085,096,889. This trade represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 134,662 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total value of $31,605,171.40. Following the transaction, the insider directly owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This trade represents a 49.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,284 shares of company stock valued at $43,862,999 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Salesforce by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 89,572,253 shares of the CRM provider’s stock valued at $21,228,624,000 after acquiring an additional 748,772 shares during the last quarter. State Street Corp raised its position in Salesforce by 0.3% in 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 purchasing an additional 159,739 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Salesforce by 0.6% during the second 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 in the last quarter. Capital International Investors boosted its stake in shares of Salesforce by 9.4% during the third quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock valued at $4,753,519,000 after purchasing an additional 1,729,440 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Salesforce by 159.0% during the third 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. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Company Profile

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.