Why These Salesforce Analysts Have Slashed Their Price Targets Ahead Of Earnings; Price Target Changes By Most Accurate Analysts

Salesforce, Inc. CRM is all set to report quarterly earnings after the closing bell today.

Analysts expect the company to report earnings of $1.21 per share on revenue of $7.82 billion for the latest quarter.

Salesforce shares rose 1% to $153.18 in the after-hours trading session.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Baird’s analyst Rob Oliver maintained an Outperform rating on November 29, 2022, but lowered the price target from $230 to $210. Oliver sees around 38% upside in the company’s stock and has an accuracy rate of 70%.
• Keybanc’s analyst Michael Turits reiterated an Overweight rating on the stock on November 29, 2022, but cut the price target from $210 to $200. This analyst sees around 32% upside in the company’s stock and has an accuracy rate of 59%.
• Wells Fargo analyst Michael Turrin maintained an Overweight rating on November 22, 2022, but slashed the price target from $220 to $190. Turrin sees around 25% upside in the company’s stock and has an accuracy rate of just 42%.
• Jefferies analyst Brent Thill maintained a Buy rating on the stock on November 21, 2022, but slashed the price target from $250 to $240. This analyst sees around 58% upside in the company’s stock and has an accuracy rate of 70%.
• Barclays analyst Raimo Lenschow reiterated an Overweight rating on the stock on November 18, 2022, and slashed the price target from $202 to $193. This analyst sees around 27% upside in the company’s stock but has an accuracy rate of 64%.