Salesforce (CRM): New Buy Recommendation for This Technology Giant

In a report released today, Patrick Walravens from JMP Securities maintained a Buy rating on Salesforce (CRM – Research Report), with a price target of $342.00. The company’s shares closed last Friday at $294.32.

According to TipRanks, Walravens is an analyst with an average return of -8.9% and a 35.94% success rate. Walravens covers the Technology sector, focusing on stocks such as Salesforce, Adobe, and NICE.

Salesforce has an analyst consensus of Moderate Buy, with a price target consensus of $338.06, representing a 14.86% upside. In a report released on April 13, Jefferies also assigned a Buy rating to the stock with a $350.00 price target.

The company has a one-year high of $318.30 and a one-year low of $190.32. Currently, Salesforce has an average volume of 5.55M.

Based on the recent corporate insider activity of 412 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Salesforce (CRM) Company Description:

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.