Salesforce Gets Price Target Hikes By Analysts After Q1 Results

Salesforce, Inc. CRM posted better-than-expected earnings and sales results for its first quarter.

The company posted revenue of $8.25 billion, which topped estimates of $8.18 billion. EPS of $1.69 surpassed expectations of $1.61.

Salesforce expects full-year revenue to be between $34.5 billion and $34.7 billion versus estimates of $34.65 billion. The company sees full-year adjusted earnings between $7.41 and $7.43 per share versus estimates of $7.14 per share.

Salesforce shares dropped 6% to $209.95 in today’s pre-market trading session.

These analysts made changes to their price targets on Salesforce following earnings announcement.

• Piper Sandler raised the price target on Salesforce from $230 to $248. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
• Mizuho increased the price target on Salesforce from $225 to $240. Mizuho analyst Gregg Moskowitz maintained a Buy rating.
• Baird increased Salesforce price target from $200 to $210. Baird analyst Rob Oliver maintained the stock with a Neutral.
• Bernstein boosted Salesforce price target from $145 to $153. Bernstein analyst Mark Moerdler mainatained an Underperform rating.
• Oppenheimer increased Salesforce price target from $225 to $235. Oppenheimer analyst Brian Schwartz maintained the stock with an Outperform.
• Citigroup boosted Salesforce price target from $229 to $230. Citigroup analyst Tyler Radke maintained the stock with a Neutral.

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