In yesterday’s Wall Street session, Salesforce Inc (NYSE:CRM) shares traded at $247.68, down -0.15% from the previous session.
CRM stock price is now -2.56% away from the 50-day moving average and -7.59% away from the 200-day moving average. The market capitalization of the company currently stands at $236.78B.
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With the price target enhanced from $265 to $305, BMO Capital Markets maintained Outperform rating for Salesforce Inc (NYSE: CRM). On May 30, 2024, Oppenheimer reiterated its ‘Outperform’ rating on the stock by increasing its target price from $325 to quote $280, while ‘KeyBanc Capital Markets’ rates the stock as ‘Sector Weight’
In other news, Harris Parker, Co-Founder and CTO, Slack sold 4,200 shares of the company’s stock on Aug 27 ’24. The stock was sold for $1,104,199 at an average price of $262.90. Upon completion of the transaction, the Co-Founder and CTO, Slack now directly owns 117,581 shares in the company, valued at $29.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23 ’24, President and CRO Milano Miguel sold 2,934 shares of the business’s stock. A total of $771,482 was realized by selling the stock at an average price of $262.95. This leaves the insider owning 3,716 shares of the company worth $0.92 million. A total of 2.61% 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 0.21, a current ratio of 0.95, and a quick ratio of 0.95. According to the stock market information, the enterprise value for the company is $236697354240, which is based on a 43.12 price-to-earnings ratio, a 2.66 price-to-earnings-growth ratio, and a beta of 1.30. The fifty day moving average price for CRM is $254.1742 and a two-hundred day moving average price translates $268.0126 for the stock.
The latest earnings results from Salesforce Inc (NYSE: CRM) was released for 2024-07-31. The net profit margin was 15.44% and return on equity was 9.73% for CRM. The company reported revenue of $9.32 billion for the quarter, compared to $8.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.39 percent.
