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David R. Schmaier, President and Chief Product Officer at Salesforce, Inc. (NYSE:CRM), sold 1,785 shares of the company's common stock on December 26, according to a recent SEC filing. The shares were sold at an average price of $344.00, totaling $614,040. The transaction occurred near Salesforce's 52-week high of $369, with the stock showing impressive momentum, up nearly 36% over the past six months. According to InvestingPro analysis, Salesforce maintains a "GREAT" financial health score and boasts a perfect Piotroski Score of 9. Following this transaction, Schmaier retains ownership of 19,116 shares in the company. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Schmaier adopted on June 28, 2024. InvestingPro subscribers can access 16 additional key insights about Salesforce, including detailed valuation metrics and growth prospects. Get access to the comprehensive Pro Research Report, part of InvestingPro's coverage of 1,400+ top US stocks.
In other recent news, Salesforce.com (NYSE:CRM) continues to maintain a positive outlook from various analysts following significant product developments and events. Wedbush Securities reiterates an Outperform rating, emphasizing Salesforce's strategic positioning in the growing artificial intelligence (AI) sector. The firm projects a $7 trillion digital labor market opportunity that Salesforce could tap into, leveraging its Agentforce 2.0 initiative.
Truist Securities maintains a Buy rating and a $400.00 price target for Salesforce, following their attendance at the CRM's Agentforce World Tour event. The firm highlighted the positive reception of Salesforce's offerings and the potential for new products to catalyze an uptick in revenue growth.
Stifel maintained its Buy rating for Salesforce, noting the staggered release schedule of Agentforce 2.0, which will be fully available in February 2025. The product is expected to enhance Salesforce's core function of supporting its customer base with revenue management and process optimization.
Goldman Sachs reaffirms its Buy rating on Salesforce, emphasizing the company's AI execution and potential growth in the digital labor market. The firm pointed to Salesforce's recent developments, such as the upgraded Atlas (NYSE:ATCO) Reasoning Engine and the integration of Agentforce 2.0 within Slack, as key drivers of the company's positive trajectory.
Lastly, Mizuho (NYSE:MFG) Securities sustained its optimistic outlook on Salesforce, maintaining an Outperform rating and a $425.00 price target on the stock. The firm emphasized Salesforce's strategic position and the potential impact of Agentforce 2.0 on the company's future growth. These are the recent developments for Salesforce.
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