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Salesforce (CRM) Stock Price, News & Analysis

$257.44
-5.75 (-2.18%)
(As of 07/8/2024 ET)
Today's Range
$257.19
$262.84
50-Day Range
$218.04
$287.54
52-Week Range
$193.68
$318.71
Volume
6.54 million shs
Average Volume
6.94 million shs
Market Capitalization
$249.46 billion
P/E Ratio
46.30
Dividend Yield
0.16%
Price Target
$292.79

Salesforce MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.71 Rating Score
Upside/​Downside
13.7% Upside
$292.79 Price Target
Short Interest
Healthy
1.04% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-0.60
Upright™ Environmental Score
News Sentiment
0.55mentions of Salesforce in the last 14 days
Based on 32 Articles This Week
Insider Trading
Selling Shares
$127.25 M Sold Last Quarter
Proj. Earnings Growth
12.72%
From $7.47 to $8.42 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.89 out of 5 stars

Computer And Technology Sector

13th out of 568 stocks

Prepackaged Software Industry

5th out of 189 stocks

CRM stock logo

About Salesforce Stock (NYSE:CRM)

Salesforce, Inc. is a cloud-based SaaS company founded by former Oracle exec Marc Benioff in 1999. Mr. Benioff founded the company with 3 partners who will remain active in management until nearly 2020. Larry Elison, a co-founder of Oracle, is a noteworthy early investor who helped propel the company to its success. The company is a leader in CRM or customer relationship management and is largely responsible for the proliferation of digitized CRM solutions that is ongoing today.

The company was not immune to the DotCom bubble bursting and had to cut back its workforce and plans but the event is nothing but a blip on the radar now. Even then, the company could sustain a hyper-growth rate that saw revenue skyrocket from $0 in 1999 to over $100 million by the end of 2003. The company held its IPO in 2004 and raised $110 million. The hypergrowth continued until 2014 driven by the growing recognition among C-suite executives that digital CRM was the path to accelerated revenue and earnings growth.

The company made multiple small acquisitions in the period leading up to 2014, but it was then that investment in other technology accelerated. Total spending in 2016 topped $5 billion and led to the acquisition of Slack in 2020. The company was added to the Dow Jones Industrial Average, instantly becoming the largest technology company in the index. The Slack acquisition came under some criticism due to the elevated cost the company paid. The track record of growth that includes sustained sequential growth through the end of 2022 put an end to the criticism.

Today, Salesforce.com provides customer relationship management technology that brings companies and customers together worldwide. It is the 1st cloud stock to reach $1 billion in revenue, hitting that target in 2009. It is the world’s largest enterprise-level software provider and the 61st-largest company by market cap. In regards to US businesses, it is ranked 136th on the Forbes Fortune 500 list for 2022 when revenue topped $7.7 billion.

The company offers its services via the Customer 360 platform. The platform is designed to deliver connected experiences for a business's customers in a way that delivers sales. Revenue is generated in 2 channels that include Sales and Service. The Sales offering stores data, monitors leads and tracks traffic progression through the sales funnel. It can forecast and provide other analytics as well as deliver quotes, contracts and invoices.

The Service segment allows companies to provide personalized services and support at scale. Scale is the fundamental quality that drives Salesfoce.com’s success because it has been able to scale and aid its clients when they scale. Among Service’s many offerings is the ability to create apps with a drag-and-drop builder tool. This segment also includes Slack which permits easy communication among business associates.

Salesforce.com Ventures is a wholly-owned subsidiary of Salesforce.com. It is in business to invest in start-up and early growth phase businesses and has invested more than $5 billion since 2009.

CRM Stock Price History

CRM Stock News Headlines

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The death of the "petrodollar" seems imminent. And the implications could not be worse for Americans. Russia, China and India have decided to abandon the petrodollar.
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Salesforce Stock: Meeting Recap, AI Focus, and Forecast
Salesforce NYSE: CRM is the undisputed leader in cloud-based customer relationship management (CRM) solutions. Salesforce continues to navigate a pivotal period in its corporate evolution.
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Salesforce Stock: Meeting Recap, AI Focus, and Forecast
Salesforce navigates a complex landscape of AI innovation, economic uncertainty, and shareholder scrutiny as it seeks to deliver lasting value to investors.
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Call Option Interest Soars in These 3 Stocks
Buying a stock is one way to expose capital to a potential upside in a company's trajectory. Owning a stock opens the way for a one-for-one plan, as the investment will only move up or down in lockstep with each point the stock moves up or down.
Collapse of the Petrodollar
The death of the "petrodollar" seems imminent. And the implications could not be worse for Americans. Russia, China and India have decided to abandon the petrodollar.
Homepage of Chewy website on the display of PC
Call Option Interest Soars in These 3 Stocks (CRM)
Three stocks earned the attention of call option buyers, as there are plenty fundamental trends and financial expansions to back bets for higher prices soon
Salesforce (NYSE:CRM) Stock Price Up 1.6%
Is Salesforce a Buy?
See More Headlines
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Company Calendar

Ex-Dividend for 4/11 Dividend
3/13/2024
Dividend Payable
4/11/2024
Last Earnings
5/29/2024
Today
7/09/2024
Ex-Dividend for 7/25 Dividend
7/09/2024
Dividend Payable
7/25/2024
Next Earnings (Estimated)
9/04/2024
Fiscal Year End
1/31/2025

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Application Software
CUSIP
79466L30
Employees
72,682
Year Founded
1999

Price Target and Rating

Average Stock Price Target
$292.79
High Stock Price Target
$365.00
Low Stock Price Target
$220.00
Potential Upside/Downside
+13.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.71
Research Coverage
35 Analysts

Profitability

Net Income
$4.14 billion
Pretax Margin
18.16%

Debt

Sales & Book Value

Annual Sales
$34.86 billion
Cash Flow
$11.98 per share
Book Value
$61.62 per share

Miscellaneous

Free Float
937,992,000
Market Cap
$249.46 billion
Optionable
Optionable
Beta
1.29

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Should I Buy Salesforce Stock? CRM Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Salesforce, Inc.:

  • Salesforce, Inc. has a strong market capitalization of $249.13 billion, indicating stability and potential for growth.
  • Analysts have given Salesforce a consensus rating of "Moderate Buy" with a target price of $292.79, suggesting positive sentiment and room for stock price appreciation.
  • Recent insider transactions show institutional investors owning 80.43% of the company's stock, reflecting confidence in the company's future performance.
  • Salesforce's P/E ratio of 46.24 and P/E/G ratio of 2.26 indicate reasonable valuation and growth potential, making it an attractive investment opportunity.
  • The company's 1 year high of $318.71 showcases strong performance and potential for stock price growth in the future.

Cons

Investors should be bearish about investing in Salesforce, Inc. for these reasons:

  • Recent analyst reports have indicated a mixed sentiment with one sell rating, nine hold ratings, and only one strong buy rating, suggesting uncertainty in the market.
  • Salesforce's stock price has experienced fluctuations, with a 50-day simple moving average of $259.79, indicating potential volatility in the short term.
  • The company's beta of 1.25 implies higher volatility compared to the market average, which may not be suitable for conservative investors.
  • Insiders have sold 547,387 shares of company stock valued at $151,174,635 over the last ninety days, potentially signaling lack of confidence in the company's future performance.
  • KeyCorp's "sector weight" rating for Salesforce may indicate average performance compared to its industry peers, posing a challenge for investors seeking above-average returns.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, July 7, 2024. Please send any questions or comments about these Salesforce pros and cons to contact@marketbeat.com.

CRM Stock Analysis - Frequently Asked Questions

How have CRM shares performed this year?

Salesforce's stock was trading at $263.14 at the start of the year. Since then, CRM shares have decreased by 2.2% and is now trading at $257.44.
View the best growth stocks for 2024 here
.

How were Salesforce's earnings last quarter?

Salesforce, Inc. (NYSE:CRM) announced its quarterly earnings data on Wednesday, May, 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm's revenue was up 10.7% on a year-over-year basis.

Is Salesforce doing a stock buyback?

Salesforce's board authorized a stock repurchase program on Wednesday, March 1st 2023, which allows the company to buy back $20,000,000,000 in outstanding shares, according to EventVestor. This means that the company could repurchase up to 10.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

What is Marc Benioff's approval rating as Salesforce's CEO?

1,953 employees have rated Salesforce Chief Executive Officer Marc Benioff on Glassdoor.com. Marc Benioff has an approval rating of 97% among the company's employees. This puts Marc Benioff in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Does Salesforce have any subsidiaries?

Salesforce subsidiaries include Phennecs, Atonit, LevelJump, Acumen Solutions, Slack, Mobify, The CMO Club, and others.

Who are Salesforce's major shareholders?

Top institutional shareholders of Salesforce include DNB Asset Management AS (0.07%), Boston Common Asset Management LLC (0.01%), Beese Fulmer Investment Management Inc. (0.01%) and Neville Rodie & Shaw Inc. (0.01%). Insiders that own company stock include Marc Benioff, G Mason Morfit, Bret Steven Taylor, Parker Harris, Amy E Weaver, Srinivas Tallapragada, R David Schmaier, Gavin Patterson, Brent Hyder, Neelie Kroes, Oscar Munoz, Craig Conway, Sundeep G Reddy, Brian Millham and Joe Allanson.
View institutional ownership trends
.

How do I buy shares of Salesforce?

Shares of CRM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Salesforce own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Salesforce investors own include NVIDIA (NVDA), Alibaba Group (BABA), Netflix (NFLX), Walt Disney (DIS), PayPal (PYPL), Tesla (TSLA) and Visa (V).

This page (NYSE:CRM) was last updated on 7/9/2024 by MarketBeat.com Staff

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