Analysts Adjust Price Target On Salesforce Ahead Of Quarterly Results

Analysts slashed their price targets on Salesforce.com Inc 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.

Momentum54.18

Growth89.35

Quality73.03

Value7.65

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