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

In a report released today, Kirk Materne from Evercore ISI maintained a Buy rating on Salesforce, with a price target of $260.00.

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Materne covers the Technology sector, focusing on stocks such as Salesforce, Microsoft, and Oracle. According to TipRanks, Materne has an average return of 3.7% and a 50.00% success rate on recommended stocks.

In addition to Evercore ISI, Salesforce also received a Buy from TipRanks – Google’s Google Software – Application in a report issued today. However, on the same day, TipRanks – xAI reiterated 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 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.