Evercore ISI Thinks Salesforce’s Stock is Going to Recover

Evercore ISI analyst Kirk Materne maintained a Buy rating on Salesforce (CRMResearch Report) on July 19 and set a price target of $250.00. The company’s shares closed last Tuesday at $170.46, close to its 52-week low of $154.55.

According to TipRanks.com, Materne is a 4-star analyst with an average return of 5.4% and a 53.6% success rate. Materne covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, Qualtrics International, and Tyler Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Salesforce with a $240.65 average price target, a 35.9% upside from current levels. In a report issued on July 18, Piper Sandler also maintained a Buy rating on the stock with a $220.00 price target.

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The company has a one-year high of $311.75 and a one-year low of $154.55. Currently, Salesforce has an average volume of 7.77M.

Based on the recent corporate insider activity of 352 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.

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