Why Analysts See Up To 32% Upside In Salesforce?

·1 min read
  • Analysts hailed Salesforce.com's (NYSE: CRM) Slack integration and raised guidance at the investor day presentation by raising their price targets. The analysts expressed faith in the company's prospects and the acquisition of Slack despite the pandemic cooling off. The price upsides ranged from 12% to 32%.

  • Related Content: Salesforce Bumps Up FY22 Outlook, Issues FY23 Guidance

  • Also Read: Salesforce Integrates Slack Across Products, Industry Solutions For Hybrid Work

  • Piper Sandler analyst Brent Bracelin upgraded the rating to Overweight from Neutral and increased the PT from $280 to $365, implying a 31.5% upside.

  • Oppenheimer analyst Brian Schwartz reiterated an Outperform and bumped the PT from $290 to $310, indicating an 11.7% upside.

  • JMP Securities analyst Patrick Walravens affirmed an Outperform and increased the PT from $320 to $325, suggesting a 17.1% upside.

  • Mizuho analyst Gregg Moskowitz raised the PT to $320 from $300, implying a 15.3% upside, and kept a Buy.

  • Wells Fargo analyst Michael Turrin lifted the PT to $340 from $325, indicating a 22.4% upside, and affirmed an Overweight.

  • UBS analyst Karl Keirstead bumped the PT to $330 from $300, indicating an 18.8% upside, and reiterated a Buy.

  • Price Action: CRM shares traded higher by 0.37% at $278.90 in the premarket session on the last check Friday.

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