Canaccord Genuity Group Reiterates Buy Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $225.00 price objective on the CRM provider’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 7.56% from the stock’s previous close.

Several other brokerages have also recently issued reports on CRM. Sanford C. Bernstein reduced their price objective on Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a report on Thursday, May 28th. Jefferies Financial Group upgraded Salesforce from a “buy” rating to a “buy” rating in a research report on Wednesday, July 1st. Phillip Securities downgraded Salesforce from a “buy” rating to a “hold” rating and cut their price target for the stock from $253.00 to $166.00 in a research note on Monday, June 29th. Citizens Jmp reissued a “market outperform” rating and issued a $315.00 price objective on shares of Salesforce in a research note on Tuesday. Finally, UBS Group raised their target price on shares of Salesforce from $185.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $248.72.

Salesforce Trading Up 0.0%

Shares of CRM opened at $209.19 on Tuesday. Salesforce has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $171.32 billion, a P/E ratio of 24.21, a PEG ratio of 1.13 and a beta of 1.16. The firm’s 50-day moving average is $175.23 and its two-hundred day moving average is $181.44.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, research analysts predict that Salesforce will post 10.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in Salesforce during the second quarter worth approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $26,000. Persistent Asset Partners Ltd acquired a new position in Salesforce in the 2nd quarter valued at $27,000. Finally, Costello Asset Management INC raised its holdings in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 119 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: BTIG reaffirmed its “Buy” rating and set a $255 price target, implying substantial upside from recent trading levels. The bullish view reflects confidence in Salesforce’s AI opportunity and valuation. Benzinga
• Positive Sentiment: Salesforce’s substantial share-repurchase program is being cited as a source of support for earnings per share and valuation. Analysts also point to disciplined spending, AI-led growth and a relatively modest valuation as potential catalysts for an upside earnings surprise. Salesforce Forcing Itself Higher Through Massive Buybacks And AI-Led Growth
• Positive Sentiment: Several investment analyses describe Salesforce as an undervalued way to participate in enterprise AI, despite slower growth. Expectations call for approximately 10.6% revenue growth, supported by AI-cloud demand, acquisitions and cost control. Salesforce Set to Report Q2 Earnings
• Neutral Sentiment: Salesforce is scheduled to report fiscal Q2 results on Wednesday. Investors will watch bookings, remaining performance obligations, guidance and evidence that AI products are improving growth. What to expect from Salesforce’s Q2 earnings
• Neutral Sentiment: The recent rally has brought CRM to a key resistance zone near $210, corresponding with its June high. A strong earnings reaction could determine whether the advance continues or stalls. Salesforce stock hits a crucial resistance ahead of earnings
• Negative Sentiment: The main risk is that Salesforce’s slower underlying growth fails to reaccelerate. Any weak guidance, limited AI monetization or signs that software demand remains pressured could lead investors to take profits after the pre-earnings rally. Salesforce earnings due: Will sales growth reacceleration hold up?

About Salesforce

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.