Salesforce (NYSE:CRM) Stock Price Expected to Rise, Citigroup Analyst Says

Salesforce (NYSE:CRM) had its price objective boosted by equities researchers at Citigroup from $197.00 to $200.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the CRM provider’s stock. Citigroup’s price objective points to a potential upside of 4.01% from the company’s previous close.

Several other research firms have also recently commented on CRM. Sanford C. Bernstein lowered their target price on Salesforce from $223.00 to $194.00 and set an “underperform” rating for the company in a research note on Thursday. BTIG Research lowered their price objective on Salesforce from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America cut their target price on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. BMO Capital Markets lowered their price target on shares of Salesforce from $235.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Oppenheimer decreased their price objective on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $283.14.

Salesforce Stock Down 1.3%

Shares of CRM stock traded down $2.50 during trading on Monday, reaching $192.29. The company’s stock had a trading volume of 5,373,525 shares, compared to its average volume of 12,440,719. Salesforce has a 1-year low of $174.57 and a 1-year high of $303.07. The stock’s 50-day moving average price is $223.98 and its 200 day moving average price is $238.38. The company has a market capitalization of $180.18 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.42 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.98.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.76. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $11.18 billion. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.78 EPS. 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, research analysts anticipate that Salesforce will post 7.46 EPS for the current year.

Insider Buying and Selling at Salesforce

In related news, Director David Blair Kirk purchased 1,936 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were purchased at an average price of $258.64 per share, for a total transaction of $500,727.04. Following the transaction, the director directly owned 10,677 shares of the company’s stock, valued at approximately $2,761,499.28. The trade was a 22.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 value of $31,605,171.40. Following the sale, the insider directly owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. This represents a 49.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several large investors have recently modified their holdings of the stock. Rockland Trust Co. increased its holdings in shares of Salesforce by 1,145.6% in the 3rd quarter. Rockland Trust Co. now owns 13,066 shares of the CRM provider’s stock valued at $3,097,000 after acquiring an additional 12,017 shares during the last quarter. Alps Advisors Inc. increased its stake in Salesforce by 98.3% during the third quarter. Alps Advisors Inc. now owns 21,455 shares of the CRM provider’s stock valued at $5,085,000 after purchasing an additional 10,633 shares during the last quarter. Midwest Trust Co raised its holdings in shares of Salesforce by 2.3% during the third quarter. Midwest Trust Co now owns 187,071 shares of the CRM provider’s stock worth $44,336,000 after purchasing an additional 4,233 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Salesforce by 15.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 467,551 shares of the CRM provider’s stock worth $113,420,000 after buying an additional 61,270 shares during the last quarter. Finally, AGF Management Ltd. grew its position in shares of Salesforce by 42.2% during the 3rd quarter. AGF Management Ltd. now owns 281,054 shares of the CRM provider’s stock valued at $66,610,000 after buying an additional 83,403 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

About Salesforce

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.