Why Salesforce.com Shares Are Trading Higher Today

Salesforce.com Inc CRM is trading higher Wednesday after analysts at JPMorgan and Wolfe Research raised their price targets on the stock.

JMP Securities analyst Patrick Walravens maintained a Market Outperform rating on the stock and raised the price target from $282 to $320.

Wolfe Research analyst Alex Zukin maintained an Outperform rating on the stock and raised the price target from $280 to $290.

Salesforce.com provides enterprise cloud computing solutions, including Sales Cloud, the company's main customer relationship management software-as-a-service product.

Salesforce.com is set to release its fiscal second-quarter 2022 results after the market closes on Aug. 25.

Price Action: Salesforce.com has traded as high as $284.50 and as low as $194.41 over a 52-week period. 

At last check Wednesday, the stock was up 3.19% at $254.87

Photo: courtesy of Salesforce.com.