On March 2, 2023, Needham upgraded their outlook for salesforce.com from Hold to Buy.
Analyst Price Forecast Suggests 16.36% Upside
As of March 2, 2023, the average one-year price target for salesforce.com is $194.73. The forecasts range from a low of $120.19 to a high of $404.25. The average price target represents an increase of 16.36% from its latest reported closing price of $167.35.
The projected annual revenue for salesforce.com is $31,281MM, a decrease of 0.23%. The projected annual non-GAAP EPS is $4.98.
What are large shareholders doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 28,880K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 28,207K shares, representing an increase of 2.33%. The firm decreased its portfolio allocation in CRM by 12.84% over the last quarter.
Price T Rowe Associates holds 26,293K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 30,387K shares, representing a decrease of 15.57%. The firm decreased its portfolio allocation in CRM by 21.69% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 23,117K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 22,555K shares, representing an increase of 2.43%. The firm decreased its portfolio allocation in CRM by 12.96% over the last quarter.
Geode Capital Management holds 17,417K shares representing 1.76% ownership of the company. In it's prior filing, the firm reported owning 16,967K shares, representing an increase of 2.59%. The firm decreased its portfolio allocation in CRM by 12.52% over the last quarter.
Fisher Asset Management holds 13,875K shares representing 1.40% ownership of the company. In it's prior filing, the firm reported owning 12,726K shares, representing an increase of 8.28%. The firm decreased its portfolio allocation in CRM by 9.36% over the last quarter.
What is the Fund Sentiment?
There are 3306 funds or institutions reporting positions in salesforce.com. This is a decrease of 74 owner(s) or 2.19% in the last quarter. Average portfolio weight of all funds dedicated to CRM is 0.59%, a decrease of 15.42%. Total shares owned by institutions decreased in the last three months by 1.19% to 857,096K shares. The put/call ratio of CRM is 0.99, indicating a bullish outlook.
Salesforce Background Information
(This description is provided by the company.)
Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
