DA Davidson Raises Salesforce (NYSE:CRM) Price Target to $235.00

Salesforce (NYSE:CRM) had its price target lifted by analysts at DA Davidson from $225.00 to $235.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the CRM provider’s stock. DA Davidson’s price objective points to a potential downside of 9.93% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Truist Financial cut their price objective on shares of Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a report on Thursday. Roth Capital restated a “buy” rating and issued a $395.00 target price on shares of Salesforce in a report on Thursday, September 4th. Bank of America decreased their target price on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Cowen reaffirmed a “buy” rating on shares of Salesforce in a research note on Thursday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $250.00 price target on shares of Salesforce in a report on Thursday. Twenty-nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.54.

Salesforce Stock Performance

NYSE:CRM traded up $13.46 during midday trading on Friday, hitting $260.92. The company’s stock had a trading volume of 11,467,455 shares, compared to its average volume of 7,802,625. The firm has a market cap of $248.40 billion, a P/E ratio of 34.89, a P/E/G ratio of 1.87 and a beta of 1.25. Salesforce has a fifty-two week low of $221.96 and a fifty-two week high of $367.15. The firm’s 50 day moving average is $242.92 and its 200-day moving average is $253.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM) last posted 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 during the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.35%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities analysts anticipate that Salesforce will post 7.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 122 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total transaction of $31,598.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $3,085,096,889. This represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 134,662 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the transaction, the insider directly owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. This trade represents a 49.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,284 shares of company stock valued at $43,862,999 over the last three months. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares in the last quarter. Bison Wealth LLC grew its stake in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after buying an additional 184 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Salesforce by 5.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,382 shares of the CRM provider’s stock worth $2,332,000 after acquiring an additional 466 shares during the last quarter. Finally, Fayez Sarofim & Co grew its holdings in shares of Salesforce by 4.2% in the first quarter. Fayez Sarofim & Co now owns 2,860 shares of the CRM provider’s stock worth $768,000 after purchasing an additional 114 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.