Citigroup reaffirmed its coverage of Salesforce (NYSE:CRM) on May 26, 2023, with a Neutral recommendation, according to Fintel, a financial technology firm.
Analyst predicts 7.57% Upside in Stock Price
The average one-year price target for CRM as of May 11, 2023, is $225.80, with forecasts ranging from a low of $146.45 to a high of $341.25. The average price target represents a 7.57% increase from the latest reported closing price of $209.91.
Visit Fintel’s leaderboard of companies with the largest potential price target increase.
The projected annual revenue for Salesforce is $34,736MM, indicating an increase of 10.79%. The projected annual non-GAAP EPS is 5.71.
What is the Fund Sentiment for CRM?
As of the last quarter, 3,479 funds or institutions reported positions in Salesforce, an increase of 159 owner(s) or 4.79%. Average portfolio weight of all funds dedicated to CRM is 0.73%, representing an increase of 32.15%. Total shares owned by institutions increased in the last three months by 4.95% to 898,312K shares.
The put/call ratio of CRM is 1.28, indicating a bearish outlook.
What are Other Shareholders Doing?
According to Fintel, Ofi Invest Asset Management holds 3.81% ownership in Salesforce with 37,272K shares, while Vanguard Total Stock Market Index Fund Investor Shares holds 3.00% ownership with 29,407K shares.
VTSMX had an increase of 1.79% in owned shares in its prior filing, representing 41.67% increase in its portfolio allocation in CRM over the last quarter.
In its prior filing, VFINX reported an increase of 0.93% in owned shares, representing a 41.04% increase in its portfolio allocation in CRM over the last quarter.
Price T Rowe Associates holds 1.95% ownership with 19,133K shares, representing a decrease of 37.42% in owned shares in its prior filing. The firm increased its portfolio allocation in CRM by 2.04% over the last quarter. Geode Capital Management holds 1.81% ownership with 17,749K shares, with an increase of 1.87% in owned shares in its prior filing. The firm increased its portfolio allocation in CRM by 42.01% over the last quarter.
Salesforce Background Information
(This description is provided by the company.)
Salesforce is the world’s leading CRM company, empowering businesses of all sizes and industries to digitally transform and gain a 360 degree view of their customers.
Key filings for Salesforce can be found on Fintel.
This article was originally published on Fintel.
The opinions and views expressed in this article are of the author and do not necessarily represent those of Nasdaq, Inc.
