Salesforce (NYSE:CRM) Given New $398.00 Price Target at Morgan Stanley

Salesforce (NYSE:CRM) had its price objective cut by research analysts at Morgan Stanley from $405.00 to $398.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the CRM provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 53.03% from the company’s current price.

CRM has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $250.00 target price on shares of Salesforce in a report on Thursday. Stifel Nicolaus reduced their price target on shares of Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Salesforce in a research note on Thursday. UBS Group reissued a “neutral” rating and set a $260.00 price target on shares of Salesforce in a research report on Thursday. Finally, Robert W. Baird dropped their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $326.46.

Salesforce Stock Up 0.2%

NYSE CRM traded up $0.54 during trading hours on Tuesday, hitting $260.07. 2,677,807 shares of the company were exchanged, compared to its average volume of 7,812,549. The company has a 50 day moving average of $243.55 and a two-hundred day moving average of $252.27. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14. The firm has a market cap of $243.69 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 2.02 and a beta of 1.25. Salesforce has a 52-week low of $221.96 and a 52-week high of $367.09.

Salesforce (NYSE:CRM) last issued its 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. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The firm had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter last year, the company 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. Equities research analysts anticipate that Salesforce will post 7.46 earnings per share for the current year.

Insider Activity

In other news, Director G Mason Morfit bought 96,000 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the transaction, the director directly owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. The trade was a 3.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 134,662 shares of the company’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 sale, 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 182,034 shares of company stock worth $43,297,979. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the business. KDT Advisors LLC raised its holdings 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 acquiring an additional 38 shares in the last quarter. Scott & Selber Inc. increased its position in shares of Salesforce by 0.7% during the second quarter. Scott & Selber Inc. now owns 5,850 shares of the CRM provider’s stock valued at $1,595,000 after purchasing an additional 39 shares during the period. Hanson & Doremus Investment Management raised its stake in shares of 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 purchasing an additional 39 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position 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 purchasing an additional 39 shares during the period. Finally, Aspire Growth Partners LLC boosted its stake in Salesforce by 1.2% during the third quarter. Aspire Growth Partners LLC now owns 3,355 shares of the CRM provider’s stock worth $795,000 after buying an additional 39 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Company Profile

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.