Salesforce (NYSE:CRM) Stock Price Down 2.5% Following Analyst Downgrade

Shares of Salesforce Inc. (NYSE:CRM) fell 2.5% during trading on Wednesday after Citigroup lowered their price target on the stock from $276.00 to $253.00. Citigroup currently has a neutral rating on the stock. Salesforce traded as low as $226.00 and last traded at $228.2660. 7,925,360 shares changed hands during trading, an increase of 3% from the average session volume of 7,729,920 shares. The stock had previously closed at $234.12.

CRM has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Salesforce in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, October 16th. Bank of America dropped their target price on Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft cut their target price on Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, September 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Salesforce in a research note on Thursday, October 16th. Twenty-five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $322.86.

Insider Buying and Selling

In related news, Director David Blair Kirk acquired 3,400 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director directly owned 3,824 shares of the company’s stock, valued at approximately $973,819.84. The trade was a 801.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $245.85, for a total value of $553,162.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $2,928,459,730.35. This trade represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 56,372 shares of company stock worth $13,941,863. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several hedge funds have recently bought and sold shares of the company. Painted Porch Advisors LLC boosted its stake in Salesforce by 260.0% during the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 65 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Salesforce in the third quarter valued at approximately $26,000. Evolution Wealth Management Inc. bought a new stake in shares of Salesforce in the 2nd quarter worth $27,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Salesforce in the 3rd quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $244.38 and its two-hundred day moving average is $255.28. The company has a market cap of $217.31 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the company posted $2.56 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 17th. Salesforce’s dividend payout ratio (DPR) is presently 24.13%.

Salesforce Company Profile

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.