Salesforce’s (CRM) Neutral Rating Reiterated at Macquarie

by · The Cerbat Gem

Salesforce (NYSE:CRM – Get Free Report)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Macquarie in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $320.00 price target on the CRM provider’s stock. Macquarie’s target price suggests a potential upside of 14.67% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

View Our Latest Research Report on CRM

Salesforce Price Performance

Shares of CRM stock traded down $0.32 during trading hours on Thursday, reaching $279.07. The company had a trading volume of 4,808,432 shares, compared to its average volume of 6,356,178. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $315.19 and a 200-day moving average of $309.50. The company has a market capitalization of $268.19 billion, a price-to-earnings ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35. Salesforce has a 12-month low of $212.00 and a 12-month high of $369.00.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robin L. Washington acquired 1,695 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 75,609 shares of company stock worth $24,920,821. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Finally, Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $30,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile

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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.

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