Morgan Stanley Cuts Salesforce (NYSE:CRM) Price Target to $398.00

by · The Markets Daily

Salesforce (NYSE:CRM – Free Report) had its price target trimmed by Morgan Stanley from $405.00 to $398.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the CRM provider’s stock.

Several other analysts have also commented on CRM. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, December 4th. BMO Capital Markets cut their target price on Salesforce from $280.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Salesforce from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Northland Capmk cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Truist Financial cut their price objective on Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, December 4th. Twenty-eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.46.

Check Out Our Latest Stock Analysis on Salesforce

Salesforce Trading Down 0.8%

Shares of CRM stock opened at $262.19 on Tuesday. The company’s 50-day moving average price is $245.06 and its 200-day moving average price is $252.33. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. The stock has a market cap of $245.67 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 1.97 and a beta of 1.25. Salesforce has a twelve month low of $221.96 and a twelve month high of $367.09.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.39. The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. Salesforce’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities analysts predict that Salesforce will post 7.46 earnings per share for the current 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 payout ratio is currently 22.16%.

Insiders Place Their Bets

In related news, 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 $3,085,096,889. This represents a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 $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. Insiders have sold 177,534 shares of company stock worth $42,194,197 over the last three months. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Salesforce

Several hedge funds have recently modified their holdings of CRM. KDT Advisors LLC raised its position in Salesforce by 4.1% in the 1st quarter. KDT Advisors LLC now owns 967 shares of the CRM provider’s stock valued at $260,000 after purchasing an additional 38 shares in the last quarter. Scott & Selber Inc. raised its holdings in Salesforce by 0.7% in the second quarter. Scott & Selber Inc. now owns 5,850 shares of the CRM provider’s stock valued at $1,595,000 after acquiring an additional 39 shares in the last quarter. Hanson & Doremus Investment Management raised its holdings in Salesforce by 6.9% in the second quarter. Hanson & Doremus Investment Management now owns 607 shares of the CRM provider’s stock valued at $166,000 after acquiring an additional 39 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its stake in Salesforce by 2.3% in the second quarter. Beverly Hills Private Wealth LLC now owns 1,716 shares of the CRM provider’s stock worth $468,000 after acquiring an additional 39 shares during the last quarter. Finally, Aspire Growth Partners LLC grew its holdings in Salesforce by 1.2% during the 3rd quarter. Aspire Growth Partners LLC now owns 3,355 shares of the CRM provider’s stock worth $795,000 after acquiring an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

(Get Free Report)

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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