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Benzinga
Benzinga
Business
Anusuya Lahiri

Analysts Adjust Price Target On Salesforce Ahead Of Quarterly Results

CRM BMO Capital Cowen Keith Bachman NYSE
  • Analysts slashed their price targets on Salesforce.com Inc (NYSE:CRM) ahead of its quarterly results.
  • Cowen analyst J. Derrick Wood lowered the price target to $285 from $325 (36% upside) and kept an Outperform. 
  • The analyst previewed its upcoming results. While his reads on Government and MULE are more mixed, he still expects a solid beat and raise and is encouraged that 91% of their partners see 2023 pipeline growth.
  • BMO Capital analyst Keith Bachman lowered the price target to $240 from $335 (14% upside) amid compression in software multiples but kept an Outperform. 
  • The company can sustain double-digit growth, with upselling and new solution offerings contributing to growth.
  • Price Action: CRM shares traded higher by 1.13% at $210.45 on the last check Monday.
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