Salesforce (NYSE:CRM) Given New $200.00 Price Target at Citigroup

Salesforce (NYSE:CRM) had its price objective upped by stock analysts at Citigroup from $197.00 to $200.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the CRM provider’s stock. Citigroup’s price objective indicates a potential upside of 4.01% from the stock’s previous close.

Several other brokerages have also weighed in on CRM. Cantor Fitzgerald reissued an “overweight” rating on shares of Salesforce in a report on Thursday. Citizens Jmp reaffirmed a “market outperform” rating and set a $430.00 price objective on shares of Salesforce in a report on Tuesday, December 2nd. BTIG Research cut their target price on shares of Salesforce from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Salesforce in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their price target on Salesforce from $365.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $283.14.

Salesforce Price Performance

Shares of CRM stock traded down $2.50 during trading on Monday, hitting $192.29. The company had a trading volume of 5,373,525 shares, compared to its average volume of 12,440,719. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 0.76. The firm has a market capitalization of $180.18 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. The stock’s 50-day moving average price is $223.98 and its 200 day moving average price is $238.38. Salesforce has a one year low of $174.57 and a one year high of $303.07.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $11.18 billion. During the same period in the prior year, the company earned $2.78 EPS. Salesforce’s revenue was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Equities analysts expect that Salesforce will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Salesforce

In related news, Director David Blair Kirk bought 1,936 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were bought at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the completion of the transaction, the director owned 10,677 shares of the company’s stock, valued at approximately $2,761,499.28. This trade represents a 22.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neelie Kroes sold 3,893 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total transaction of $929,259.10. Following the sale, the director directly owned 7,299 shares of the company’s stock, valued at approximately $1,742,271.30. This trade represents a 34.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of CRM. Commonwealth Retirement Investments LLC purchased a new stake in Salesforce in the 4th quarter valued at about $25,000. Marquette Asset Management LLC acquired a new stake in Salesforce in the 3rd quarter valued at approximately $26,000. Board of the Pension Protection Fund purchased a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Key Capital Management INC acquired a new position in Salesforce during the fourth quarter worth $26,000. Finally, Gilpin Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth $26,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.