Stocks of Salesforce Inc (NYSE:CRM) traded higher last session on Wall Street, down -1.36% to $275.17.
CRM stock price is now -6.03% away from the 50-day moving average and 9.91% away from the 200-day moving average. The market capitalization of the company currently stands at $266.99B.
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On January 11, 2024, Robert W. Baird Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock increasing its target price from $240 to quote $300, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Benioff Marc, Chair and CEO sold 15,000 shares of the company’s stock on May 08 ’24. The stock was sold for $4,179,383 at an average price of $278.63. Upon completion of the transaction, the Chair and CEO now directly owns 12,632,327 shares in the company, valued at $3.48 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On May 07 ’24, Chair and CEO Benioff Marc sold 15,000 shares of the business’s stock. A total of $4,159,208 was realized by selling the stock at an average price of $277.28. This leaves the insider owning 12,647,327 shares of the company worth $3.48 billion. A total of 3.06% of the company’s stock is owned by insiders.
During the past 12 months, Salesforce Inc has had a low of $193.68 and a high of $318.71. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 1.02, and a quick ratio of 1.02.
According to the Software – Application Company, earnings per share came in at 1.69, beating analysts’ expectations of 1.61 by 0.08. This compares to -$0.10 EPS in the same period last year. The net profit margin was 11.87% and return on equity was 7.01% for CRM. The company reported revenue of $9.29 billion for the quarter, compared to $8.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.77 percent. For the current quarter, analysts expect CRM to generate $9.15B in revenue.
