Fintel reports that on July 31, 2023, Morgan Stanley downgraded their outlook for Salesforce (NYSE:CRM) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 7.37% Upside
As of July 6, 2023, the average one-year price target for Salesforce is 242.23. The forecasts range from a low of 154.53 to a high of $341.25. The average price target represents an increase of 7.37% from its latest reported closing price of 225.60.
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The projected annual revenue for Salesforce is 34,736MM, an increase of 10.79%. The projected annual non-GAAP EPS is 5.71.
What is the Fund Sentiment?
There are 3540 funds or institutions reporting positions in Salesforce. This is an increase of 187 owner(s) or 5.58% in the last quarter. Average portfolio weight of all funds dedicated to CRM is 0.78%, an increase of 31.52%. Total shares owned by institutions increased in the last three months by 4.72% to 900,825K shares. The put/call ratio of CRM is 1.19, indicating a bearish outlook.
What are Other Shareholders Doing?
Ofi Invest Asset Management holds 37,272K shares representing 3.83% ownership of the company.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 29,407K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 28,880K shares, representing an increase of 1.79%. The firm increased its portfolio allocation in CRM by 41.67% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 23,334K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 23,117K shares, representing an increase of 0.93%. The firm increased its portfolio allocation in CRM by 41.04% over the last quarter.
Price T Rowe Associates holds 19,133K shares representing 1.96% ownership of the company. In it’s prior filing, the firm reported owning 26,293K shares, representing a decrease of 37.42%. The firm increased its portfolio allocation in CRM by 2.04% over the last quarter.
Geode Capital Management holds 17,749K shares representing 1.82% ownership of the company. In it’s prior filing, the firm reported owning 17,417K shares, representing an increase of 1.87%. The firm increased its portfolio allocation in CRM by 42.01% over the last quarter.
Salesforce Background Information
(This description is provided by the company.)
Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers.
This article originally appeared on Fintel
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