As of May 17, 2023, Salesforce (NYSE: CRM) has garnered a total of 33 ratings from analysts within the last three months. Out of these, 7 were bullish, 18 were somewhat bullish, while 8 were indifferent. Interestingly, none of the ratings were somewhat bearish or bearish.
The average price target for Salesforce is currently at $217.67, with the highest being $320.00 and the lowest at $170.00. This is indicative of a positive outlook for the company’s future.
A consensus among 48 polled investment analysts is to buy stock in Salesforce Inc. This is a testament to the company’s strong performance and potential for growth.
In the past month, the average price target has increased by 17.32%, indicating a growing confidence in Salesforce’s ability to deliver value to its investors.
It is important to note that analysts gather their information from various sources such as company conference calls, financial statements, and conversations with key insiders. However, it is crucial to remember that analysts are only human and their opinions are not infallible.
Overall, the outlook for Salesforce is positive, with analysts projecting a bright future for the company.
[bs_forecast_slider ticker=”CRM”]’
Salesforce (CRM) Stock Analysis: Positive Opening, Fluctuating Throughout the Day, Overvalued Based on High Ratios
On May 17, 2023, CRM (Salesforce) opened at 206.56, up from its previous close of 204.56. Throughout the day, the stock fluctuated within a range of 204.85 to 208.92. The volume of shares traded was 3,652,752, which is lower than the average volume of the past three months, which was 4,424,764. The market capitalization of CRM was $197.6B.
In terms of earnings growth, CRM had a significant drop of -86.13% last year, but it has recovered with a growth rate of +36.23% this year. The company is expected to have a steady growth rate of +20.00% in the next five years. Additionally, the revenue growth rate of CRM was positive at +18.35% last year.
The P/E ratio of CRM is 992.8, which is relatively high compared to the industry average. The price/sales ratio is 5.34, and the price/book ratio is 3.49. These ratios suggest that the stock may be overvalued.
The next reporting date for CRM is on June 1, 2023. The EPS forecast for this quarter is $1.61. The annual revenue for CRM last year was $31.4B, and the annual profit was $208.0M. The net profit margin for the company was 0.66%.
In conclusion, CRM had a positive opening on May 17, 2023, but the stock fluctuated throughout the day. The company has had a significant drop in earnings growth last year, but it has recovered this year and is expected to have steady growth in the future. The stock may be overvalued based on its high P/E ratio and price/sales ratio. Investors should keep an eye on the company’s performance in the upcoming quarter.
Salesforce Inc Stock Performance: Positive Outlook for CRM Giant in 2023
On May 17, 2023, Salesforce Inc’s stock performance was closely watched by investors and analysts alike. The company, which specializes in customer relationship management (CRM) software, had a median target price of $226.00, according to 42 analysts offering 12-month price forecasts. This represented a median estimate of an 8.52% increase from the last price of $208.25.
Despite the positive outlook, the stock had been experiencing some volatility in the past few months. However, the current consensus among 48 polled investment analysts was to buy stock in Salesforce Inc.
Looking at the current quarter, Salesforce Inc’s earnings per share were $1.61, while sales were $8.2 billion. The company was set to report its earnings on June 01, 2023.
Overall, the outlook for Salesforce Inc’s stock performance was positive, with analysts predicting an increase in the stock price in the coming months. The company had a strong reputation in the CRM industry and had been expanding its offerings in recent years. However, investors should keep an eye on any potential changes in the market or company performance that could affect the stock price.
Discussion about this post