Northland Capital has recently raised Salesforce Inc (CRM) stock to Outperform rating, as announced on October 2, 2024, according to Finviz. Earlier, on September 24, 2024, Piper Sandler had raised the stock from a Neutral to Overweight, setting a price target of $325 for CRM stock. BMO Capital Markets also reiterated Outperform rating with a price target of $305. Additionally, Oppenheimer reiterated Outperform rating on May 30, 2024, with a target price of $280. KeyBanc Capital Markets analysts, in their report published on March 21, 2024, also initiated Sector Weight rating for Salesforce Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Salesforce Inc (CRM) Stock Trading Recap
On Wednesday, Salesforce Inc (CRM) stock saw a decline, ending the day at $296.4 which represents a decrease of $-2.49 or -0.83% from the prior close of $298.89. The stock opened at $297.07 and touched a low of $296.35 during the day, reaching a high of $299.54. The volume of shares traded was 2.82 million falling short of the average volume of 5.22 million.
Sponsored
CRM Stock Performance and Moving Averages
In recent trading, Salesforce Inc (CRM) stock price has shown some volatility, fluctuating 4.21% over the last five trades and 9.43% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 10.31%, and it has gained 17.13% in the previous three months. Currently, CRM is trading at 2.27%, 9.00%, and 8.59% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CRM, a Technology sector stock, is trading -7.00% below its 52-week high but remains 50.40% above its 52-week low. The Average True Range (ATR) (14 days) of 5.67 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Salesforce Inc’s Profitability and Valuation Ratios
Salesforce Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 19.06% and a profit margin of 15.44%, with a gross margin of 10.31%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Salesforce Inc’s market capitalization stands at $283.36 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 51.6, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 26.6. Additionally, the Price-to-Sales Ratio is 7.77, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 4.93, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 2.64% of Salesforce Inc (CRM)’s shares, while financial institutions hold 83.06%.
Notable insider trades include Millham Brian, President and COO at Salesforce Inc (CRM), who sold 60522 shares on Oct 29 ’24, at $300 each, totaling $18.16 million. On Oct 29 ’24, Harris Parker, Co-Founder and CTO, Slack, sold 4200 shares for $298.04 each, amounting to $1.25 million. Additionally, on Oct 24 ’24, Millham Brian sold 969 shares at $286.56 each, generating $0.28 million.
