New Buy Rating for Salesforce (CRM), the Technology Giant

BMO Capital analyst Keith Bachman maintained a Buy rating on Salesforce yesterday and set a price target of $225.00. The company’s shares closed yesterday at $191.75.

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Bachman covers the Technology sector, focusing on stocks such as Okta, Adobe, and Cognizant. According to TipRanks, Bachman has an average return of 2.1% and a 44.81% success rate on recommended stocks.

In addition to BMO Capital, Salesforce also received a Buy from Canaccord Genuity’s David Hynes in a report issued today. However, on the same day, Citi maintained a Hold rating on Salesforce (NYSE: CRM).

Based on Salesforce’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $10.26 billion and a net profit of $2.09 billion. In comparison, last year the company earned a revenue of $9.44 billion and had a net profit of $1.53 billion

Based on the recent corporate insider activity of 288 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, NEELIE KROES, a Director at CRM sold 3,893.00 shares for a total of $929,259.10.