In a report released yesterday, Alex Zukin from RBC Capital maintained a Buy rating on Salesforce (CRM), with a price target of $285.00. The company’s shares closed last Wednesday at $246.82.
According to TipRanks.com, Zukin is a top 25 analyst with an average return of 31.7% and a 78.3% success rate. Zukin covers the Technology sector, focusing on stocks such as Duck Creek Technologies, Inc., Zoom Video Communications, and ZoomInfo Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Salesforce with a $296.36 average price target, representing a 12.4% upside. In a report issued on November 22, Jefferies also maintained a Buy rating on the stock with a $320.00 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 $5.15 billion and net profit of $2.63 billion. In comparison, last year the company earned revenue of $4 billion and had a net profit of $91 million.
Based on the recent corporate insider activity of 404 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.