Salesforce’s (CRM) Outperform Rating Reaffirmed at Wedbush

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

CRM has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on shares of Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a report on Thursday, September 4th. Stifel Nicolaus decreased their price objective on Salesforce from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Northland Capmk downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Salesforce in a report on Thursday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Salesforce in a research note on Thursday, October 16th. Twenty-seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $322.86.

Salesforce Trading Up 1.6%

Shares of CRM opened at $238.47 on Thursday. The stock’s fifty day simple moving average is $242.78 and its 200-day simple moving average is $253.10. The firm has a market capitalization of $227.02 billion, a PE ratio of 34.66, 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 $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.

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

Insiders Place Their Bets

In other news, Director David Blair Kirk bought 3,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were acquired at an average price of $254.66 per share, with a total value of $865,844.00. Following the transaction, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $251.12, for a total transaction of $565,020.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $2,991,233,709.52. This represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 184,284 shares of company stock worth $43,862,999. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently modified their holdings of CRM. Painted Porch Advisors LLC grew its stake in Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after purchasing an additional 65 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $26,000. Evolution Wealth Management Inc. bought a new position in shares of Salesforce in the second quarter valued at $27,000. Texas Capital Bancshares Inc TX acquired a new position in Salesforce during the third quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC raised its position in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 85 shares in 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.