Salesforce (NYSE:CRM) Given New $210.00 Price Target at Royal Bank Of Canada

Salesforce (NYSE:CRMFree Report) had its price objective lowered by Royal Bank Of Canada from $290.00 to $210.00 in a report released on Thursday,Benzinga reports. The firm currently has a sector perform rating on the CRM provider’s stock.

CRM has been the topic of a number of other reports. Barclays dropped their price target on Salesforce from $265.00 to $252.00 and set an “overweight” rating on the stock in a research report on Thursday. Citizens Jmp reissued a “market outperform” rating and issued a $430.00 target price on shares of Salesforce in a research note on Tuesday, December 2nd. Bank of America reduced their price target on Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a report on Monday, November 17th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Salesforce in a research note on Thursday, December 4th. Finally, UBS Group cut their price objective on shares of Salesforce from $260.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $284.06.

View Our Latest Analysis on Salesforce

Salesforce Stock Performance

Shares of CRM stock opened at $199.38 on Thursday. The company’s fifty day moving average price is $225.28 and its 200-day moving average price is $238.59. The stock has a market cap of $186.82 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. Salesforce has a 12 month low of $174.57 and a 12 month high of $304.92.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.28%. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $11.18 billion. During the same period last year, the company posted $2.78 EPS. Salesforce’s revenue was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, equities analysts expect that Salesforce will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, April 9th. This represents a $1.76 annualized dividend and a yield of 0.9%. This is an increase from Salesforce’s previous quarterly dividend of $0.42. Salesforce’s dividend payout ratio (DPR) is currently 22.16%.

Insider Activity at Salesforce

In other news, Director G Mason Morfit purchased 96,000 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the purchase, the director directly owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. This represents a 3.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Neelie Kroes sold 3,893 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total value of $929,259.10. Following the sale, the director owned 7,299 shares of the company’s stock, valued at approximately $1,742,271.30. This trade represents a 34.78% decrease in their position. The SEC filing for this sale provides additional information. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock valued at $23,800,353,000 after acquiring an additional 270,913 shares during the period. State Street Corp lifted its position in Salesforce by 1.3% during the fourth quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after purchasing an additional 659,573 shares in the last quarter. J. Stern & Co. LLP grew its holdings in Salesforce by 24,056.7% during the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares during the period. Capital International Investors increased its position in Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after buying an additional 2,669,891 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Salesforce by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock worth $5,751,073,000 after buying an additional 791,345 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Key Stories Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

About Salesforce

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Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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Analyst Recommendations for Salesforce (NYSE:CRM)

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