Salesforce Receives a Downgraded Rating from StockNews.com

Salesforce, known by its ticker symbol NYSE:CRM, has seen a change in its stock rating delivered by analysts at StockNews.com. Previously rated as a 'strong-buy', Salesforce's rating has been adjusted to a 'buy'. This shift was communicated to clients and investors in a research report released on Tuesday.

Analysts Adjust Price Targets and Ratings for Salesforce

Several other analysts have also recently shared their own evaluations of Salesforce. Notably, Needham & Company LLC increased their price objective on the company, raising it from $275 to $345, and maintaining a 'buy' rating. Oppenheimer set a higher target price, going from $300 to $325, and affixed an 'outperform' rating to the stock. Morgan Stanley also contributed to the optimistic outlook by upgrading Salesforce from an 'equal weight' to an 'overweight' rating and setting their price target from $290 to $350.

Conversely, Piper Sandler offered a more reserved 'neutral' rating, keeping their price target at $285. Wolfe Research, on the other hand, changed their rating from 'peer perform' to 'outperform', setting a price target of $315. The aggregation of these expert analyses gives Salesforce an average rating of 'Moderate Buy' with an average price target of $304.32.

Recent Performance and Transactions of Salesforce Stock

On the day the report was released, Salesforce's stock opened at $306.08. The company holds a quick ratio and a current ratio of 1.09, a debt-to-equity ratio of 0.14, and has registered a 12-month low and high of $184.89 and $318.71, respectively. The 50-day and 200-day moving averages stand at $289.88 and $248.76, with a market capitalization of $296.90 billion, a PE ratio of 72.88, a PEG ratio of 2.31, and a beta of 1.28. The latest quarterly earnings report showed an EPS of $1.78, surpassing the consensus estimate by $0.06, and a revenue increase of 10.8% year-over-year, reaching $9.29 billion.

Insiders and Hedge Funds Involvement

In related news, transactions by insiders have been reported where CEO Marc Benioff sold 15,000 shares at an average price of $251.61, and insider Parker Harris sold 4,200 shares at $299.60 each. Over recent months, insiders have sold over 1.1 million shares valued at roughly $316.5 million. Institutional investors and hedge funds have also adjusted their stakes in Salesforce with Vanguard Group Inc., State Street Corp, Capital World Investors, Morgan Stanley, and Fisher Asset Management LLC being notable entities who have increased their holdings.

About Salesforce

Salesforce is a company specializing in Customer Relationship Management (CRM) technology, serving to connect companies and customers all around the world. Their services are extensive, ranging from sales data management, lead monitoring, and analytics to providing personalized customer support at scale.

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