Salesforce Inc (CRM) Volatility Spurs A Quest For Clarity

With over 4.88 million Salesforce Inc (CRM) shares trading Monday and a closing price of $224.79 on the day, the dollar volume was approximately $1.1 billion. The shares have shown a positive half year performance of 4.34% and its price on 11/27/23 gained nearly 0.18%. Currently, there are 1.01B common shares owned by the public and among those 941.16M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 50 analysts who have offered their price forecasts for CRM have a consensus price objective of $256.01. The analysts have set the share’s price value over the next 12 months at a high of $340.00 and a low of $159.00. The average price target is 12.19% above its recent price level and a downside to the estimated low will see the stock lose -41.38% over that period. But an upside of 33.89% will see the stock hit the forecast high price target while median target price for the stock is $255.00.

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Insiders at the company have transacted a total of 1104 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 255 of these insider trades were purchases, accounting for 847,984 shares. Insider sales of the common stock occurred on 849 occasions, with total insider shares sold totaling 3,580,048 shares.

Shares of Salesforce Inc (NYSE: CRM) opened at $225.50, up $1.12 from a prior closing price of $224.38. However, the script later moved the day high at 226.22, up 0.18%. The company’s stock has a 5-day price change of 1.61% and 6.17% over the past three months. CRM shares are trading 69.54% year to date (YTD), with the 12-month market performance up to 47.66% higher. It has a 12-month low price of $126.34 and touched a high of $238.22 over the same period. CRM has an average intraday trading volume of 4.59 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.37%, 7.67%, and 10.06% respectively.

Institutional ownership of Salesforce Inc (NYSE: CRM) shares accounts for 80.09% of the company’s 1.01B shares outstanding.

It has a market capitalization of $218.72B and a beta (3y monthly) value of 1.18. The stock’s trailing 12-month PE ratio is 140.78, while the earnings-per-share (ttm) stands at $1.60. The company has a PEG of 5.32 and a Quick Ratio of 0.93 with the debt-to-equity ratio at 0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.33% over the week and 1.63% over the month.

Analysts forecast that Salesforce Inc (CRM) will achieve an EPS of $1.88 for the current quarter, $1.99 for the next quarter and $8.57 for 2025. The lowest estimate earnings-per-share for the quarter is $1.86 while analysts give the company a high EPS estimate of $1.94. Comparatively, EPS for the current quarter was $1.4 a year ago. Earnings per share for the fiscal year are expected to increase by 53.38%, and 16.58% over the next financial year. EPS should grow at an annualized rate of 26.45% over the next five years, compared to -15.70% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 50 brokerage firm advisors rate Salesforce Inc (CRM) as a “Strong Buy” at a consensus score of 1.74. Specifically, 30 Wall Street analysts polled rate the stock as a buy, while 15 of the 50 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the CRM, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on October 23, 2023, with the firm’s price target at $268-$232.

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