Salesforce Inc. (NYSE:CRM) shares traded 1.88% higher at $213.32 on Wall Street last session.
In accordance with the data, 49 analysts cover Salesforce Inc. (NYSE:CRM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $325.00 and a low of $145.00, we find $226.00. Given the previous closing price of $209.38, this indicates a potential upside of 7.94 percent. CRM stock price is now 10.34% away from the 50-day moving average and 28.68% away from the 200-day moving average. The market capitalization of the company currently stands at $210.56B.
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It has been rated a hold by 12 analysts and a buy by 34. Brokers who have rated the stock have averaged $225.74 as their price target over the next twelve months.
With the price target maintained at $230, Needham recently Upgraded its rating from Hold to Buy for Salesforce Inc. (NYSE: CRM)., while ‘DA Davidson’ rates the stock as ‘Neutral’.
In other news, Harris Parker, Co-Founder and CTO sold 1,250 shares of the company’s stock on May 16. The stock was sold for $252,412 at an average price of $201.93. Upon completion of the transaction, the Co-Founder and CTO now directly owns 100,309 shares in the company, valued at $21.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09, Co-Founder and CTO Harris Parker sold 1,250 shares of the business’s stock. A total of $245,975 was realized by selling the stock at an average price of $196.78. This leaves the insider owning 100,309 shares of the company worth $21.4 million. Insiders disposed of 1,906,375 shares of company stock worth roughly $406.67 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CRM stock. A new stake in Salesforce Inc. shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $7,950,811,000. THIRD POINT LLC invested $170,656,000 in shares of CRM during the first quarter. In the first quarter, AUSTRALIANSUPER PTY LTD acquired a new stake in Salesforce Inc. valued at approximately $160,072,000. WHALE ROCK CAPITAL MANAGEMENT LLC acquired a new stake in CRM for approximately $158,666,000. PALESTRA CAPITAL MANAGEMENT LLC purchased a new stake in CRM valued at around $131,375,000 in the second quarter. In total, there are 2,875 active investors with 79.50% ownership of the company’s stock.
Salesforce Inc. (NYSE: CRM) opened at $209.50 on Thursday. During the past 12 months, Salesforce Inc. has had a low of $126.34 and a high of $209.49. As of last week, the company has a debt-to-equity ratio of 0.18, a current ratio of 1.00, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $199.95B, which is based on a 1035.53 price-to-earnings ratio, a 52.93 price-to-earnings-growth ratio, and a beta of 1.24. The fifty day moving average price for CRM is $193.95 and a two-hundred day moving average price translates $165.93 for the stock.
The latest earnings results from Salesforce Inc. (NYSE: CRM) was released for Jan, 2023. According to the Software – Application Company, earnings per share came in at $1.68, beating analysts’ expectations of $1.36 by 0.32. This compares to -$0.05 EPS in the same period last year. The net profit margin was 0.70% and return on equity was 0.40% for CRM. The company reported revenue of $8.38 billion for the quarter, compared to $7.33 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.44 percent. For the current quarter, analysts expect CRM to generate $8.18B in revenue.
Salesforce Inc.(CRM) 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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale. In addition, its platform offering comprise a flexible platform that enables companies of various sizes, locations, and industries to build business apps with drag-and-drop tools; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, a system of engagement. The company’s marketing services enables companies to plan, personalize, and optimize customer marketing journey and real time personalization and optimization; and commerce services, which empowers shopping experience across various points of commerce, such as mobile, web, social, and stores and provides click-to-code tools that offers customers to build and deploy solutions. Further, its analytics offering includes Tableau, an end-to-end analytics solution for range of enterprise use cases and intelligent analytics with advanced AI models, spot trends, predict outcomes, timely recommendations, and take action from any device; and integration service including MuleSoft, an easy to connect data from any system to deliver connected experiences. Additionally, the company provides genie customer data cloud, a hyperscale real-time data platform that powers the customer 360 platform; vertical services to meet the needs of customers in industries, such as financial services, healthcare and life sciences, manufacturing and others; and offers salesforce easy for small and medium-sized businesses. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.
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