Fintel reports that on October 4, 2023, Truist Securities reiterated coverage of Salesforce (NYSE:CRM) with a Buy recommendation.
Analyst Price Forecast Suggests 23.27% Upside
As of August 31, 2023, the average one-year price target for Salesforce is 246.33. The forecasts range from a low of 154.53 to a high of $345.45. The average price target represents an increase of 23.27% from its latest reported closing price of 199.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Salesforce is 34,736MM, an increase of 5.03%. The projected annual non-GAAP EPS is 5.71.
What is the Fund Sentiment?
There are 3642 funds or institutions reporting positions in Salesforce. This is an increase of 137 owner(s) or 3.91% in the last quarter. Average portfolio weight of all funds dedicated to CRM is 0.73%, a decrease of 5.53%. Total shares owned by institutions decreased in the last three months by 3.72% to 866,244K shares. 
The put/call ratio of CRM is 1.27, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 29,632K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 29,407K shares, representing an increase of 0.76%. The firm decreased its portfolio allocation in CRM by 1.69% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 23,310K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 23,334K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in CRM by 4.32% over the last quarter.
Capital World Investors holds 19,242K shares representing 1.98% ownership of the company. In it's prior filing, the firm reported owning 14,784K shares, representing an increase of 23.17%. The firm increased its portfolio allocation in CRM by 28.07% over the last quarter.
Geode Capital Management holds 17,787K shares representing 1.83% ownership of the company. In it's prior filing, the firm reported owning 17,749K shares, representing an increase of 0.21%. The firm decreased its portfolio allocation in CRM by 4.15% over the last quarter.
Price T Rowe Associates holds 15,170K shares representing 1.56% ownership of the company. In it's prior filing, the firm reported owning 19,133K shares, representing a decrease of 26.12%. The firm increased its portfolio allocation in CRM by 76.08% 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.
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