Salesforce (NYSE:CRM) Upgraded by Erste Group Bank to “Buy” Rating

Salesforce (NYSE:CRM) was upgraded by equities research analysts at Erste Group Bank from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports.

CRM has been the subject of several other research reports. Raymond James Financial restated a “strong-buy” rating on shares of Salesforce in a report on Tuesday, July 21st. BTIG Research reaffirmed a “buy” rating and set a $255.00 price target on shares of Salesforce in a research report on Tuesday, May 26th. UBS Group reiterated an “equal weight” rating on shares of Salesforce in a research note on Tuesday, July 21st. Weiss Ratings downgraded Salesforce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $225.00 price objective on shares of Salesforce in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $249.51.

Salesforce Trading Up 0.9%

NYSE CRM traded up $1.78 during mid-day trading on Wednesday, reaching $192.77. 2,838,672 shares of the stock were exchanged, compared to its average volume of 13,742,835. The stock has a 50 day simple moving average of $170.69 and a 200-day simple moving average of $183.76. Salesforce has a one year low of $146.32 and a one year high of $269.11. The stock has a market cap of $157.88 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.01 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm 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. On average, analysts anticipate that Salesforce will post 10.27 EPS for the current year.

Institutional Trading of Salesforce

A number of large investors have recently modified their holdings of CRM. Bank Hapoalim BM purchased a new stake in Salesforce during the second quarter valued at about $2,309,000. BIP Wealth LLC purchased a new position in shares of Salesforce in the 2nd quarter worth about $684,000. Trifecta Capital Advisors LLC purchased a new position in shares of Salesforce in the 2nd quarter worth about $46,000. Next Capital Management LLC bought a new position in shares of Salesforce during the 2nd quarter valued at about $1,780,000. Finally, Summit Global Investments purchased a new position in shares of Salesforce during the 2nd quarter valued at about $2,072,000. Institutional investors own 80.43% of the company’s stock.

About Salesforce

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.