Salesforce Inc. (NYSE:CRM – Get Free Report)’s stock price rose 2.3% during mid-day trading on Wednesday. The stock traded as high as $234.36 and last traded at $227.2190. Approximately 6,495,060 shares were traded during trading, a decline of 51% from the average daily volume of 13,151,128 shares. The stock had previously closed at $222.20.
More Salesforce News
- 5 Stocks to Buy in November: Bargains Worth Giving Thanks For
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Zacks upgraded Salesforce to Rank #1 (Strong Buy), citing improving earnings prospects—a potential near-term tailwind for the stock. Salesforce Moves to Strong Buy
- Positive Sentiment:Salesforce agreed to acquire AI customer-service startup Cresta in a deal reported at about $2.7 billion. The purchase could expand its AI offerings and customer-service capabilities. Salesforce Signs Definitive Agreement to Acquire Cresta
- Neutral Sentiment:A report notes Salesforce shares have previously rebounded after falling at least 50% from a record high, gaining about 63% and 44% in the year following the two earlier episodes. The historical pattern may encourage long-term investors, but does not predict a repeat. What History Suggests After Salesforce’s Major Declines
- Negative Sentiment:The Cresta deal is Salesforce’s fifth major acquisition this year, raising concerns about the cost and complexity of integrating multiple purchases while the stock is under pressure. Salesforce’s AI Acquisition Spending
- Negative Sentiment:ETFs were net sellers of $15.2 million in Salesforce shares on Nov. 2, while a shelf registration for 609,118 shares tied to an employee stock ownership plan renewed attention to potential dilution. ETFs Are Net Sellers of SalesforceSalesforce Files Share Offering
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Argus increased their target price on shares of Salesforce from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Barclays lowered Salesforce from an “overweight” rating to a “positive” rating in a research note on Monday, October 12th. Bank of America raised Salesforce from an “underperform” rating to a “buy” rating and upped their price target for the company from $160.00 to $285.00 in a report on Monday, October 12th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday, August 27th. Finally, Truist Financial reissued a “buy” rating and set a $300.00 price objective (up from $280.00) on shares of Salesforce in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $278.98.
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