KeyBanc Capital Markets slashes price target on Salesforce Inc [CRM] – find out why.

Salesforce Inc [NYSE: CRM] gained 0.58% on the last trading session, reaching $304.00 price per share at the time. The company report on March 22, 2024 at 4:02 PM that Salesforce Grants Equity Awards to Spiff Employees Under Its Inducement Equity Incentive Plan.

Salesforce (NYSE: CRM), the #1 AI CRM, today announced it has granted equity awards under its 2014 Inducement Equity Incentive Plan (the “Plan”) to new employees who joined Salesforce in connection with the acquisition of Spiff. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

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Through the Plan, Salesforce granted a total of 117,029 restricted stock units (“RSUs”) to 107 Spiff employees. The RSUs vest over four years with 25 percent of the RSUs vesting on the first anniversary of the grant date and with the balance vesting quarterly thereafter in 12 equal installments, subject to continued service through each applicable vesting date. Each of the employees who received an equity award is a non-executive officer.

If compared to the average trading volume of 5.72M shares, CRM reached a trading volume of 4745424 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $336.32 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 1.65. 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.

KeyBanc Capital Markets have made an estimate for Salesforce Inc shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on March 21, 2024. While these analysts kept the previous recommendation, Robert W. Baird raised their target price from $240 to $300. The new note on the price target was released on January 11, 2024, representing the official price target for Salesforce Inc stock. Previously, the target price had yet another raise from $290 to $350, while Morgan Stanley kept a Overweight rating on CRM stock.

The Average True Range (ATR) for Salesforce Inc is set at 6.49, with the Price to Sales ratio for CRM stock in the period of the last 12 months amounting to 8.46. The Price to Book ratio for the last quarter was 4.95, with the Price to Cash per share for the same quarter was set at 14.63. Price to Free Cash Flow for CRM in the course of the last twelve months was 31.05 with Quick ratio for the last quarter at 1.02.

Trading performance analysis for CRM stock

Salesforce Inc [CRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.67. With this latest performance, CRM shares dropped by -4.06% in over the last four-week period, additionally plugging by 49.92% over the last 6 months – not to mention a rise of 54.63% 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 54.10, with the RSI for the last a single of trading hit 52.40, and the three-weeks RSI is set at 55.86 for Salesforce Inc [CRM]. The present Moving Average for the last 50 days of trading for this stock 295.42, while it was recorded at 302.93 for the last single week of trading, and 242.00 for the last 200 days.

Salesforce Inc [CRM]: A deeper dive into fundamental analysis

Salesforce Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.02 and a Current Ratio set at 1.02.

Salesforce Inc [CRM]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at Salesforce Inc [CRM]

The top three institutional holders of CRM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CRM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CRM stock with ownership which is approximately 5.8386%.