Analysts raise targets as Salesforce.com Inc. (CRM:NYE) hits “Hyperspace Button” Q4 earnings

Analyst Ratings for Monday February 12th

Salesforce.com Inc Stock Forecast:

According to the predictions of 51 analysts for Salesforce.com Inc‘s stock, the average target price for the company over the next year is USD 196.62, and the consensus rating from these analysts is “Strong Buy”. Stock Target Advisor has conducted its own analysis and believes that the stock is “Slightly Bullish”, based on 4 positive indicators and 3 negative indicators. Currently, the closing stock price for Salesforce.com Inc is USD 167.35, which represents a weekly increase of 2.44%, a monthly decrease of 2.60%, and a yearly decrease of 19.89%.

Analysts Coverage Change:

  • Oppenheimer & Co. maintains Salesforce.com (CRM:NYE)  with an Outperform rating and raises the target price to $225 from $185.
  • Needham & Company Upgrades to a Buy rating with a target price of $230.
  • UBS maintains a Neutral rating and raises the target price to $210 from $162.
  • Piper Jaffray Companies maintains an Overweight rating and  increases the  target price to $230 from $171.
  • Morgan Stanley & Co. maintains an Overweight rating and raises the target price to $240 from $236.
  • Raymond James maintains a Strong Buy rating and increases the target price to $240 from $200.
  • Macquarie Research maintains an Outperform rating and raises the target price to $225 from $218.
  • Robert W. Baird & Co. maintains a Neutral rating and raises the target price to $200 from $150.
  • Bank of America Merrill Lynch maintains a Buy rating and raises the target price to $235 from $200.
  • RBC maintains an Outperform rating and raises the target price to $225 from $165.
  • J.P. Morgan Chase & Co maintains an Overweight rating and raises the target price to $230 from $200.
  • Wedbush Securities maintains an Outperform rating and raises the target price to $220 from $200.
  • Raymond James maintains a Strong Buy rating and raises the target price to $240 from $200.

Salesforce.com Inc News:

Shares of Salesforce (CRM:NYE) rose in after-hours trading following the release of its Q4 FY2022 earnings report. The company exceeded analysts’ expectations, with earnings per share coming in at $1.68, beating the consensus estimate of $1.36 per share. The company’s revenue for the quarter was $8.38 billion, up 14.3% YoY, surpassing the expected $7.99 billion.  Co-Founder and CEO Marc Benioff attributed this success to the company hitting the “hyperspace button” this quarter and their focus on improving profitability.

Salesforce returned $2.3 billion to shareholders in Q4 and $4 billion for the full fiscal year, primarily through share buybacks. The company also increased its share buyback plans to $20 billion. The strong performance is attributed to increased demand for Salesforce’s customer relationship management  software solutions as businesses accelerate their digital transformations due to the COVID-19 pandemic.

Salesforce’s cloud-based platform has proven to be an essential tool for remote work and digital customer engagement. The company’s growth is expected to continue as it expands its product offerings and enters new markets. The Q4 FY2022 earnings report indicates that Salesforce is well-positioned to capitalize on the growing demand for cloud-based CRM solutions.

FA Score (Fundamental Analysis):

The fundamental analysis of Salesforce.com Inc is “Slightly Bullish” with a FA score of 5.7 out of 10, where 0 is very bearish and 10 is very bullish.

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