Robert W. Baird Cuts Salesforce (NYSE:CRM) Price Target to $315.00

Salesforce (NYSE:CRM) had its target price cut by Robert W. Baird from $325.00 to $315.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the CRM provider’s stock.

Other research analysts also recently issued research reports about the stock. Northland Capmk downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 14th. UBS Group decreased their price objective on shares of Salesforce from $300.00 to $260.00 and set a “neutral” rating for the company in a report on Monday, August 18th. Royal Bank Of Canada cut their target price on Salesforce from $275.00 to $250.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 4th. Piper Sandler restated an “overweight” rating and issued a $315.00 price target on shares of Salesforce in a research note on Thursday, October 16th. Finally, Canaccord Genuity Group dropped their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Twenty-nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.54.

Salesforce Stock Up 5.4%

CRM stock opened at $260.78 on Thursday. The business has a 50 day moving average of $243.26 and a 200 day moving average of $252.64. The firm has a market cap of $248.26 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 2.04 and a beta of 1.25. Salesforce has a twelve month low of $221.96 and a twelve month high of $367.15. The company has a quick ratio of 1.12, a current ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.39. The firm had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, research analysts forecast that Salesforce will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 22.16%.

Insider Activity

In related news, insider Parker Harris sold 134,662 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the transaction, the insider 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 122 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $259.00, for a total transaction of $31,598.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,284 shares of company stock valued at $43,862,999 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Trading of Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Staley Capital Advisers Inc. increased its holdings in Salesforce by 1.1% in the 1st quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider’s stock worth $897,000 after acquiring an additional 38 shares in the last quarter. KDT Advisors LLC boosted its position in shares of Salesforce by 4.1% in the first quarter. KDT Advisors LLC now owns 967 shares of the CRM provider’s stock worth $260,000 after purchasing an additional 38 shares during the period. Scott & Selber Inc. increased its stake in shares of Salesforce by 0.7% in the second quarter. Scott & Selber Inc. now owns 5,850 shares of the CRM provider’s stock worth $1,595,000 after purchasing an additional 39 shares in the last quarter. Hanson & Doremus Investment Management raised its position in shares of Salesforce by 6.9% during the 2nd quarter. Hanson & Doremus Investment Management now owns 607 shares of the CRM provider’s stock valued at $166,000 after purchasing an additional 39 shares during the period. Finally, Beverly Hills Private Wealth LLC lifted its stake in shares of Salesforce by 2.3% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 1,716 shares of the CRM provider’s stock valued at $468,000 after buying an additional 39 shares in the last quarter. Hedge funds and other 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.