In a report released today, Brian White from Monness maintained a Buy rating on Salesforce (CRM – Research Report), with a price target of $328.00. The company’s shares closed last Friday at $301.17, close to its 52-week high of $311.75.
According to TipRanks.com, White is a top 100 analyst with an average return of 28.2% and a 79.3% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Alphabet Class A, and Meta Platforms.
Salesforce has an analyst consensus of Strong Buy, with a price target consensus of $326.67, implying a 6.9% upside from current levels. In a report issued on November 16, Credit Suisse also initiated coverage with a Buy rating on the stock with a $375.00 price target.
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Based on Salesforce’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $6.34 billion and net profit of $535 million. In comparison, last year the company earned revenue of $5.15 billion and had a net profit of $2.63 billion.
Based on the recent corporate insider activity of 301 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.
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salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
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