Jefferies Financial Group Lowers Salesforce (NYSE:CRM) Price Target to $375.00

Salesforce (NYSE:CRM) had its target price lowered by Jefferies Financial Group from $425.00 to $375.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the CRM provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 38.80% from the company’s current price.

Several other analysts have also issued reports on CRM. Bank of America lowered their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company dropped their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Trading Up 0.7 %

NYSE:CRM opened at $270.18 on Monday. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $307.13 and its 200 day moving average is $311.78. The stock has a market capitalization of $259.64 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Large investors have recently made changes to their positions in the business. Bernard Wealth Management Corp. purchased a new position in Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the 4th quarter valued at $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.