Rosenblatt Securities analyst Yun Kim maintained a Sell rating on Salesforce (CRM) on June 9 and set a price target of $120.00. The company’s shares closed last Monday at $190.96, close to its 52-week high of $202.82.
According to TipRanks.com, Kim is a 5-star analyst with an average return of 21.4% and a 73.5% success rate. Kim covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Manhattan Associates, and Palo Alto Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Salesforce with a $199.63 average price target.
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Based on Salesforce’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $4.87 billion and net profit of $99 million. In comparison, last year the company earned revenue of $3.74 billion and had a net profit of $392 million.
Based on the recent corporate insider activity of 410 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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