Salesforce (NYSE:CRM) Price Target Raised to $265.00 at Macquarie

Salesforce (NYSE:CRM) had its price target boosted by Macquarie from $250.00 to $265.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the CRM provider’s stock. Macquarie’s price objective points to a potential upside of 6.67% from the company’s current price.

Several other analysts have also commented on CRM. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Salesforce in a report on Thursday. Wells Fargo & Company cut their price target on Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a research note on Thursday, September 4th. BMO Capital Markets dropped their price objective on Salesforce from $280.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Salesforce in a research note on Thursday. Finally, Guggenheim reissued a “neutral” rating on shares of Salesforce in a report on Thursday. Twenty-nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.27.

Salesforce Price Performance

Shares of NYSE CRM traded up $9.71 during midday trading on Thursday, reaching $248.43. The stock had a trading volume of 13,223,609 shares, compared to its average volume of 7,752,544. The company has a market capitalization of $236.51 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. Salesforce has a 12-month low of $221.96 and a 12-month high of $367.15. The stock has a 50-day moving average of $242.78 and a 200-day moving average of $253.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same quarter in the prior year, the business posted $2.41 EPS. Salesforce’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 fiscal year.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $251.12, for a total value of $565,020.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $2,991,233,709.52. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Blair Kirk bought 3,400 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the transaction, the director directly owned 3,824 shares in the company, valued at approximately $973,819.84. This represents a 801.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 184,284 shares of company stock worth $43,862,999. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Several hedge funds have recently made changes to their positions in CRM. IFP Advisors Inc boosted its position in shares of Salesforce by 17.4% in the third quarter. IFP Advisors Inc now owns 22,914 shares of the CRM provider’s stock worth $5,432,000 after acquiring an additional 3,404 shares during the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of Salesforce by 5.1% in the third quarter. Swiss Life Asset Management Ltd now owns 275,577 shares of the CRM provider’s stock worth $65,312,000 after buying an additional 13,445 shares during the period. Goldentree Asset Management LP acquired a new stake in Salesforce in the third quarter valued at approximately $39,784,000. Cantor Fitzgerald L. P. lifted its holdings in Salesforce by 349.2% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 24,565 shares of the CRM provider’s stock worth $5,822,000 after buying an additional 19,096 shares in the last quarter. Finally, Cambria Investment Management L.P. grew its stake in Salesforce by 614.2% during the 3rd quarter. Cambria Investment Management L.P. now owns 9,842 shares of the CRM provider’s stock valued at $2,333,000 after purchasing an additional 8,464 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.