Salesforce (NYSE:CRM) Price Target Cut to $225.00 by Analysts at Mizuho

Salesforce (NYSE:CRMGet Rating) had its price target cut by Mizuho from $295.00 to $225.00 in a research note published on Wednesday, The Fly reports. They currently have a buy rating on the CRM provider’s stock.

A number of other research analysts also recently commented on CRM. Credit Suisse Group set a $375.00 target price on shares of Salesforce in a research report on Thursday, March 3rd. Zacks Investment Research downgraded shares of Salesforce from a strong-buy rating to a hold rating and set a $244.00 price objective for the company. in a research note on Tuesday, February 1st. JPMorgan Chase & Co. set a $316.00 target price on Salesforce in a research report on Wednesday, March 2nd. Wedbush cut their price target on Salesforce from $315.00 to $275.00 and set an outperform rating on the stock in a report on Wednesday, March 2nd. Finally, CICC Research started coverage on Salesforce in a research note on Monday, May 9th. They set an outperform rating for the company. Five analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has an average rating of Buy and a consensus target price of $294.03.

Shares of NYSE:CRM opened at $157.33 on Wednesday. The firm’s 50 day simple moving average is $191.18 and its 200-day simple moving average is $227.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. Salesforce has a one year low of $154.64 and a one year high of $311.75. The firm has a market cap of $155.81 billion, a PE ratio of 104.89, a price-to-earnings-growth ratio of 4.67 and a beta of 1.16.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.12 by $0.12. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same period last year, the business posted $0.54 EPS. Salesforce’s quarterly revenue was up 25.9% on a year-over-year basis. Equities research analysts predict that Salesforce will post 2.1 EPS for the current fiscal year.

In other Salesforce news, CFO Amy E. Weaver sold 2,625 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $210.93, for a total transaction of $553,691.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $164.36, for a total value of $378,028.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares of the company’s stock, valued at $4,754,277,360. The disclosure for this sale can be found here. Insiders have sold 137,435 shares of company stock worth $27,121,158 over the last three months. 4.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Salesforce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 77,620,937 shares of the CRM provider’s stock worth $16,480,478,000 after buying an additional 1,458,042 shares during the last quarter. State Street Corp boosted its stake in shares of Salesforce by 1.0% in the first quarter. State Street Corp now owns 44,687,516 shares of the CRM provider’s stock worth $9,488,053,000 after acquiring an additional 433,659 shares during the last quarter. Morgan Stanley increased its position in shares of Salesforce by 20.2% during the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares in the last quarter. Wellington Management Group LLP raised its stake in Salesforce by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 15,889,819 shares of the CRM provider’s stock valued at $4,309,637,000 after purchasing an additional 805,630 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 15,448,821 shares of the CRM provider’s stock valued at $3,914,460,000 after purchasing an additional 564,493 shares in the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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