Salesforce (NYSE:CRM) Price Target Increased to $360.00 by Analysts at Jefferies Financial Group

Salesforce (NYSE:CRM) had its price objective upped by Jefferies Financial Group from $350.00 to $360.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the CRM provider’s stock.

A number of other research analysts also recently commented on CRM. Oppenheimer increased their target price on Salesforce from $300.00 to $325.00 and gave the company an outperform rating in a research report on Monday, February 12th. Robert W. Baird increased their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an outperform rating in a research report on Thursday, February 29th. Citigroup boosted their target price on shares of Salesforce from $265.00 to $325.00 and gave the stock a neutral rating in a report on Monday, February 26th. JMP Securities reaffirmed a market outperform rating and issued a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. Finally, Stifel Nicolaus restated a buy rating and set a $350.00 price objective on shares of Salesforce in a research report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $310.61.

Salesforce Price Performance

CRM stock opened at $273.83 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average price is $297.00 and its 200-day moving average price is $262.79. Salesforce has a one year low of $190.57 and a one year high of $318.71. The company has a market capitalization of $265.62 billion, a PE ratio of 65.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, equities analysts anticipate that Salesforce will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now directly owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Salesforce news, COO Brian Millham sold 393 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $280.00, for a total transaction of $110,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 596,379 shares of company stock valued at $175,587,970. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the company. Naples Global Advisors LLC grew its stake in Salesforce by 16.5% during the 3rd quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock worth $519,000 after buying an additional 363 shares during the last quarter. Traynor Capital Management Inc. grew its stake in shares of Salesforce by 8.8% during the third quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 105 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Salesforce by 15.1% during the third quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock valued at $1,335,000 after acquiring an additional 864 shares in the last quarter. Montecito Bank & Trust purchased a new position in shares of Salesforce in the 3rd quarter valued at approximately $248,000. Finally, Impact Partnership Wealth LLC raised its position in shares of Salesforce by 226.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after purchasing an additional 222 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

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.