Salesforce Inc. (NYSE:CRM) Receives $249.51 Average PT from Analysts

Shares of Salesforce Inc. (NYSE:CRMGet Free Report) have earned an average rating of “Moderate Buy” from the forty-six brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $249.5128.

Several research analysts recently issued reports on the stock. Roth Capital reiterated a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Citigroup upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Macquarie Infrastructure dropped their price target on Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Morgan Stanley reissued an “equal weight” rating and set a $185.00 price objective (down from $287.00) on shares of Salesforce in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group started coverage on Salesforce in a research note on Thursday, June 18th. They issued a “neutral” rating for the company.

View Our Latest Stock Report on Salesforce

Salesforce Trading Up 2.0%

Shares of Salesforce stock opened at $184.34 on Monday. The stock has a market capitalization of $150.98 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.98 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s 50-day simple moving average is $170.34 and its 200 day simple moving average is $185.01. Salesforce has a 52-week low of $146.32 and a 52-week high of $269.11.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, research analysts anticipate that Salesforce will post 10.27 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s payout ratio is presently 20.37%.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently modified their holdings of CRM. Ballast Inc. boosted its position in Salesforce by 54.0% in the second quarter. Ballast Inc. now owns 9,737 shares of the CRM provider’s stock worth $1,525,000 after purchasing an additional 3,415 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its stake in Salesforce by 12.8% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 1,383 shares of the CRM provider’s stock valued at $217,000 after purchasing an additional 157 shares during the period. Butensky & Cohen Financial Security Inc. bought a new stake in shares of Salesforce during the second quarter valued at approximately $2,941,000. Tema ETFs LLC lifted its position in shares of Salesforce by 10.6% in the second quarter. Tema ETFs LLC now owns 19,635 shares of the CRM provider’s stock worth $3,076,000 after buying an additional 1,885 shares in the last quarter. Finally, West Branch Capital LLC boosted its position in shares of Salesforce by 37.4% during the 2nd quarter. West Branch Capital LLC now owns 426 shares of the CRM provider’s stock valued at $67,000 after acquiring an additional 116 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

About Salesforce

(Get Free Report)

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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