Salesforce Gets Price Target Bumps By Analysts Following Upbeat Q4 Results

Salesforce, Inc. CRM reported better-than-expected Q4 results and issued strong guidance.

Salesforce said revenue increased 14% to $8.38 billion, which beat average analyst estimates of $7.99 billion. The company reported quarterly earnings of $1.68 per share, which beat consensus estimates of $1.37 per share.

Salesforce shares jumped 15.3% to $192.99 in pre-market trading.

These analysts made changes to their price targets on Salesforce following the release of results.

• Piper Sandler raised the price target on Salesforce from $171 to $230. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
• Barclays boosted the price target on Salesforce from $195 to $225. Barclays analyst Raimo Lenschow maintained an Overweight rating.
• Wedbush increased the price target on Salesforce from $200 to $220. Wedbush analyst Daniel Ives maintained an Outperform rating.
• JP Morgan boosted the price target on Salesforce from $200 to $230. JP Morgan analyst Mark Murphy maintained the stock with an Overweight.
• Macquarie boosted the price target on Salesforce from $218 to $225. Macquarie analyst Sarah Hindlian maintained an Outperform rating.
• Baird raised the price target on Salesforce from $150 to $200. Baird analyst Rob Oliver maintained a Neutral rating.
• UBS boosted the price target on Salesforce from $162 to $210. UBS analyst Karl Keirstead maintained the stock with a Neutral rating.
• Raymond James increased the price target on Salesforce from $200 to $240. Raymond James analyst Brian Peterson maintained the stock with a Strong Buy rating.

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