Salesforce (NYSE:CRM – Get Rating)'s stock had its "outperform" rating reissued by research analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They currently have a $225.00 target price on the CRM provider's stock. Royal Bank of Canada's price target would suggest a potential upside of 18.38% from the stock's previous close.

CRM has been the subject of several other reports. Stifel Nicolaus reduced their price objective on Salesforce from $200.00 to $185.00 in a research note on Monday, November 28th. Barclays raised their price objective on Salesforce from $195.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, March 2nd. Jefferies Financial Group decreased their target price on Salesforce from $240.00 to $230.00 in a research report on Thursday, December 1st. Bank of America raised their target price on Salesforce from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, March 2nd. Finally, Loop Capital raised their target price on Salesforce from $150.00 to $190.00 and gave the stock a "hold" rating in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $211.24.

Salesforce Stock Up 1.4 %

Shares of CRM stock opened at $190.06 on Friday. Salesforce has a 1 year low of $126.34 and a 1 year high of $222.15. The stock has a market cap of $190.06 billion, a PE ratio of 905.09, a price-to-earnings-growth ratio of 2.28 and a beta of 1.21. The business's fifty day moving average is $170.42 and its 200-day moving average is $155.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02.

Salesforce (NYSE:CRM – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.32. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $7.99 billion. Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The company's revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $0.24 EPS. Equities analysts expect that Salesforce will post 4.89 earnings per share for the current fiscal year.

Salesforce declared that its board has approved a share repurchase program on Wednesday, March 1st that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to purchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 438 shares of Salesforce stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $155.59, for a total transaction of $68,148.42. Following the sale, the insider now directly owns 51,819 shares of the company's stock, valued at $8,062,518.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Srinivas Tallapragada sold 438 shares of Salesforce stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $155.59, for a total transaction of $68,148.42. Following the sale, the insider now directly owns 51,819 shares of the company's stock, valued at $8,062,518.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 3,671 shares of Salesforce stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $187.96, for a total value of $690,001.16. Following the sale, the chief operating officer now directly owns 13,448 shares in the company, valued at $2,527,686.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,559 shares of company stock worth $8,573,274. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in CRM. Financial Management Professionals Inc. boosted its holdings in Salesforce by 365.2% during the fourth quarter. Financial Management Professionals Inc. now owns 214 shares of the CRM provider's stock valued at $28,000 after purchasing an additional 168 shares in the last quarter. Capital Directions Investment Advisors LLC acquired a new stake in Salesforce during the fourth quarter valued at approximately $28,000. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Salesforce by 506.1% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Salesforce by 113.4% during the third quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 110 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter valued at approximately $31,000. 75.83% of the stock is owned by institutional investors and hedge funds.

About Salesforce

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Salesforce, 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.

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