Salesforce (NYSE:CRM) Given New $300.00 Price Target at Loop Capital

Salesforce (NYSE:CRM) had its target price decreased by Loop Capital from $330.00 to $300.00 in a research report sent to investors on Thursday,Benzinga reports. Loop Capital currently has a hold rating on the CRM provider’s stock.

CRM has been the topic of a number of other research reports. UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday. Finally, BMO Capital Markets decreased their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.32.

Salesforce Price Performance

Shares of NYSE:CRM opened at $294.80 on Thursday. The company has a market capitalization of $282.12 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $330.03 and a 200-day moving average of $306.89. Salesforce has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 EPS. As a group, equities analysts anticipate that Salesforce will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brucke Financial Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at about $1,449,000. Azzad Asset Management Inc. ADV increased its stake in Salesforce by 0.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 17,904 shares of the CRM provider’s stock valued at $5,986,000 after acquiring an additional 104 shares during the period. Bernard Wealth Management Corp. acquired a new position in Salesforce in the 4th quarter valued at approximately $25,000. HWG Holdings LP bought a new stake in shares of Salesforce in the 4th quarter worth approximately $1,894,000. Finally, Yoffe Investment Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $313,000. Institutional investors own 80.43% of the company’s stock.

About Salesforce

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.