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Salesforce Inc. (NYSE: CRM) Yet To Convince Analysts?

Salesforce Inc. (NYSE:CRM) traded at $146.23 at last check on Tuesday, November 22, made an upward move of 0.95% on its previous day’s price.

Looking at the stock we see that its previous close was $144.85 and the beta (5Y monthly) reads 1.12 with the day’s price range being $143.395 – $147.34. The company has a trailing 12-month PE ratio of 270.75. In terms of its 52-week price range, CRM has a high of $305.49 and a low of $136.04. The company’s stock has lost about -9.56% over that past 30 days.

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Salesforce Inc. has a market cap of $146.47 billion and is expected to release its quarterly earnings report on Nov 30, 2022. Estimates by analysts give the company expected earnings per share (EPS) of $1.21, with the EPS growth for the year raised at $4.73 for 2023 and $5.62 for next year. These figures represent -1.00% and 18.80% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $7.82 billion, with a low of $7.67 billion and a high of $7.91 billion. The median projection represents growth squeezing down to 14.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $30.99 billion, or 17.00% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CRM stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 50 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 9 have rated the Salesforce Inc. (CRM) stock as a Hold, while 38 rate it as a Buy. 3 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the CRM stock currently stands at 17.70, and the most recent price level today is -4.82% off its SMA20 and -3.76% from its 50-day simple moving average. The RSI (14) is pointing at 44.02 while the volatility over the past week is 3.40% and jumps to 3.69% over the past one month. The beta value is 1.12, while the average true range (ATR) is currently pointing at 6.68. The average price target for the stock over the next 12 months is $213.11, with the estimates having a low of $120.00 and a high of $310.00. These price ends are 17.94% and -111.99% off the today’s price level respectively, although investors could be excited at the prospect of a -47.03% if the CRM share price touches on the median price of $215.00.

Let’s briefly compare Salesforce Inc. (CRM) stock to its peers. We find that today’s price change of 0.95% and -51.90% over the past 12 months for CRM competes that of Microsoft Corporation (MSFT), which has seen its stock price rise 0.40% in the latest trading session and is -29.45% over the last one year. Another of its peers Alphabet Inc. (GOOG) has gained 0.24% today, and was -36.09% down over the past year, while Alphabet Inc. (GOOGL) is also up 0.11% yet, while its price remains in the red at -35.81% over the same period. Salesforce Inc. has a P/E ratio of 270.75 compared to Microsoft Corporation’s 26.08 and Alphabet Inc.’s 19.28. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.72% and 0.82%, respectively, in early deals.

Coming back to Salesforce Inc. (NYSE:CRM), we note that the average 3-month trading volume was 7.56 million, while that of the preceding 10-day period stands at 7.49 million. Current shares outstanding are 997.00 million.

The insiders hold 0.10% of the company’s shares while institutions hold 79.50%. The data shows that short shares as of Oct 30, 2022, stood at 10.42 million at a short ratio of 1.56. This represents a 1.04% short interest in shares outstanding on Oct 30, 2022. Shares short fall in October from the previous month at 13.16 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -43.00% down in year-to-date price movement.

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