JPMorgan raised the firm’s price target on Salesforce (CRM) to $380 from $340 and keeps an Overweight rating on the shares following the Q3 report. The slight Q3 earnings miss driven by investment losses and minor Q4 total revenue guidance miss verses the Street appear to be overshadowed by successful attainment or slight upside across other metrics such as Q3 remaining performance obligations, margins, and cash flow as well as Q4 RPO guidance, the analyst tells investors in a research note. The firm remains “very bullish” on Agentforce “even despite the long road to monetization.”
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Read More on CRM:
- Salesforce price target raised to $405 from $330 at Morgan Stanley
- Salesforce price target raised to $390 from $368 at Citi
- Salesforce price target raised to $425 from $400 at Jefferies
- Salesforce price target raised to $345 from $330 at Wells Fargo
- Salesforce price target raised to $405 from $395 at Piper Sandler
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
