Oppenheimer analyst Brian Schwartz maintained a Buy rating on Salesforce (CRM) today and set a price target of $195.00. The company’s shares closed last Friday at $171.33.
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 29.8% and a 76.4% success rate. Schwartz covers the Technology sector, focusing on stocks such as RingCentral, ServiceNow, and Paylocity.
Currently, the analyst consensus on Salesforce is a Strong Buy with an average price target of $194.72, implying a 16.4% upside from current levels. In a report issued on May 11, JMP Securities also maintained a Buy rating on the stock with a $191.00 price target.
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Based on Salesforce’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $4.85 billion and GAAP net loss of $248 million. In comparison, last year the company earned revenue of $3.6 billion and had a net profit of $362 million.
Based on the recent corporate insider activity of 409 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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