Salesforce (CRM): New Buy Recommendation for This Technology Giant
J.P. Morgan analyst Mark Murphy maintained a Buy rating on Salesforce today and set a price target of $320.00.
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According to TipRanks, Murphy is a 4-star analyst with an average return of 3.9% and a 50.00% success rate. Murphy covers the Technology sector, focusing on stocks such as Salesforce, ServiceNow, and Microsoft.
In addition to J.P. Morgan, Salesforce also received a Buy from Piper Sandler’s Billy Fitzsimmons in a report issued on April 14. However, on April 5, RBC Capital maintained a Hold rating on Salesforce (NYSE: CRM).
Based on Salesforce’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $11.2 billion and a net profit of $1.94 billion. In comparison, last year the company earned a revenue of $9.99 billion and had a net profit of $1.71 billion
Based on the recent corporate insider activity of 275 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRM in relation to earlier this year. Last month, Laura Alber, a Director at CRM bought 2,571.00 shares for a total of $500,245.54.
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