Andy Yu CFA, an analyst from DBS, maintained the Buy rating on Salesforce (CRM – Research Report). The associated price target remains the same with $422.00.
Andy Yu CFA’s rating is based on Salesforce’s impressive financial performance and strategic initiatives. The company reported a notable increase in revenue and non-GAAP EPS, surpassing market expectations. This growth is driven by Salesforce’s robust subscription model, which contributes to a strong recurring revenue stream.
Furthermore, Salesforce’s strategic acquisitions and innovations, such as the development of its Customer 360 platform and AI tools like Agentforce, position it well in the expanding digital sales and marketing landscape. As the largest CRM vendor with a significant market share, Salesforce is expected to maintain its leadership and capitalize on the growing total addressable market. Despite some global economic uncertainties and competitive pressures, Salesforce’s strong market position and growth prospects underpin the Buy rating with a target price of USD 422.
According to TipRanks, Yu CFA is ranked #1102 out of 9400 analysts.
In another report released today, CMB International Securities also maintained a Buy rating on the stock with a $388.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com