Salesforce (NYSE:CRM) Coverage Initiated by Analysts at BTIG Research

BTIG Research started coverage on shares of Salesforce (NYSE:CRM) in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating on the CRM provider’s stock.

CRM has been the topic of a number of other research reports. Morgan Stanley decreased their price target on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Bank of America dropped their price objective on Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Sanford C. Bernstein reissued an “underperform” rating on shares of Salesforce in a report on Thursday, December 4th. Evercore ISI lowered their target price on Salesforce from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $430.00 price objective on shares of Salesforce in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $326.68.

Salesforce Stock Up 1.3%

CRM stock opened at $258.10 on Tuesday. Salesforce has a twelve month low of $221.96 and a twelve month high of $367.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14. The company has a market cap of $241.84 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The business’s 50-day simple moving average is $246.33 and its 200 day simple moving average is $251.81.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The company had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same quarter last year, the company earned $2.41 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, research analysts anticipate that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be issued a $0.416 dividend. The ex-dividend date is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.6%. Salesforce’s dividend payout ratio (DPR) is 22.16%.

Insider Activity

In other Salesforce news, Director G Mason Morfit acquired 96,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the transaction, the director owned 2,994,509 shares of the company’s stock, valued at $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $31,605,171.40. Following the completion of the transaction, the insider owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This trade represents a 49.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 173,034 shares of company stock valued at $41,097,367 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently bought and sold shares of CRM. Farmers National Bank boosted its position in Salesforce by 8.9% during the 3rd quarter. Farmers National Bank now owns 1,179 shares of the CRM provider’s stock worth $279,000 after acquiring an additional 96 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Salesforce by 142.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 3,420 shares of the CRM provider’s stock worth $811,000 after purchasing an additional 11,416 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its position in Salesforce by 13.1% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 560,000 shares of the CRM provider’s stock worth $132,698,000 after buying an additional 65,000 shares during the last quarter. Saranac Partners Ltd acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $40,000. Finally, IFP Advisors Inc lifted its stake in shares of Salesforce by 17.4% during the 3rd quarter. IFP Advisors Inc now owns 22,914 shares of the CRM provider’s stock worth $5,432,000 after buying an additional 3,404 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.