Citizens Jmp Reaffirms Market Outperform Rating for Salesforce (NYSE:CRM)

Salesforce (NYSE:CRM)‘s stock had its “market outperform” rating restated by research analysts at Citizens Jmp in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $430.00 target price on the CRM provider’s stock. Citizens Jmp’s price objective would suggest a potential upside of 80.32% from the company’s current price.

Several other research firms have also recently commented on CRM. Mizuho lowered their price target on shares of Salesforce from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. Robert W. Baird reduced their price objective on Salesforce from $365.00 to $325.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Northland Capmk lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Macquarie reaffirmed a “neutral” rating and set a $250.00 price target on shares of Salesforce in a research note on Thursday, October 16th. Finally, Stifel Nicolaus lowered their price target on Salesforce from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.29.

Salesforce Trading Up 1.6%

Shares of NYSE CRM opened at $238.47 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce has a one year low of $221.96 and a one year high of $369.00. The business has a 50-day moving average price of $242.78 and a two-hundred day moving average price of $253.10. The firm has a market capitalization of $227.02 billion, a PE ratio of 34.66, a PEG ratio of 1.83 and a beta of 1.25.

Salesforce (NYSE:CRM) last posted 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 net margin of 16.87% and a return on equity of 13.27%. The business had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. The firm’s revenue 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, analysts predict that Salesforce will post 7.46 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Marc Benioff sold 122 shares of Salesforce stock in a transaction that occurred 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 sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at approximately $3,085,096,889. This trade represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction 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 sale, the insider owned 139,767 shares in the company, valued at $32,803,314.90. This represents a 49.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 184,284 shares of company stock worth $43,862,999. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its position in shares of Salesforce by 4.0% in the second quarter. Avantax Advisory Services Inc. now owns 87,331 shares of the CRM provider’s stock valued at $23,814,000 after acquiring an additional 3,387 shares during the period. Advyzon Investment Management LLC raised its stake in Salesforce by 57.4% in the 2nd quarter. Advyzon Investment Management LLC now owns 1,884 shares of the CRM provider’s stock worth $514,000 after purchasing an additional 687 shares in the last quarter. Atalanta Sosnoff Capital LLC boosted its holdings in Salesforce by 8.5% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 206,614 shares of the CRM provider’s stock valued at $56,342,000 after purchasing an additional 16,176 shares during the period. Achmea Investment Management B.V. grew its position in shares of Salesforce by 9.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 148,254 shares of the CRM provider’s stock worth $40,427,000 after purchasing an additional 12,544 shares in the last quarter. Finally, Tableaux LLC bought a new position in shares of Salesforce during the second quarter worth approximately $40,904,000. Institutional investors 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.