Salesforce Inc [NYSE: CRM] slipped around -2.24 points on Monday, while shares priced at $314.64 at the close of the session, down -0.71%. The company report on February 28, 2024 at 4:01 PM that Salesforce Announces Strong Fourth Quarter Fiscal 2024 Results.
Salesforce (NYSE: CRM), the #1 AI CRM, today announced results for its fiscal fourth quarter and full fiscal year 2024 ended January 31, 2024.
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Fourth Quarter Revenue of $9.29 Billion, up 11% Year-Over-Year (“Y/Y”), up 10% in Constant Currency (“CC”).
Compared to the average trading volume of 5.75M shares, CRM reached a trading volume of 9113134 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Salesforce Inc [CRM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRM shares is $330.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRM stock is a recommendation set at 1.63. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Robert W. Baird have made an estimate for Salesforce Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 11, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $290 to $350. The new note on the price target was released on December 21, 2023, representing the official price target for Salesforce Inc stock. Previously, the target price had yet another raise to $280, while Wells Fargo analysts kept a Equal Weight rating on CRM stock.
The Average True Range (ATR) for Salesforce Inc is set at 7.13, with the Price to Sales ratio for CRM stock in the period of the last 12 months amounting to 8.74. The Price to Book ratio for the last quarter was 5.25, with the Price to Cash per share for the same quarter was set at 14.66. Price to Free Cash Flow for CRM in the course of the last twelve months was 30.10 with Quick ratio for the last quarter at 0.95.
How has CRM stock performed recently?
Salesforce Inc [CRM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.74. With this latest performance, CRM shares gained by 10.87% in over the last four-week period, additionally plugging by 42.08% over the last 6 months – not to mention a rise of 68.63% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRM stock in for the last two-week period is set at 72.15, with the RSI for the last a single of trading hit 75.14, and the three-weeks RSI is set at 70.46 for Salesforce Inc [CRM]. The present Moving Average for the last 50 days of trading for this stock 279.84, while it was recorded at 307.92 for the last single week of trading, and 232.84 for the last 200 days.
Salesforce Inc [CRM]: Deeper insight into the fundamentals
Salesforce Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.95 and a Current Ratio set at 1.09.
Earnings analysis for Salesforce Inc [CRM]
With the latest financial reports released by the company, Salesforce Inc posted 1.69/share EPS, while the average EPS was predicted by analysts to be reported at 1.61/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Salesforce Inc go to 16.22%.
Insider trade positions for Salesforce Inc [CRM]
The top three institutional holders of CRM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CRM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CRM stock with ownership which is approximately 5.8325%.
