Jefferies raised the firm’s price target on Salesforce (CRM) to $400 from $350 and keeps a Buy rating on the shares. The firm says its partner checks indicated an uptick in demand post Dreamforce driven by large deals coming back, first real organic product innovation in years, and public sector strength. Salesforce is investing behind the opportunity, with 1K additional reps to capitalize on “amazing momentum” per CEO Marc Benioff, Jefferies adds.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRM:
- Unusually active option classes on open November 7th
- Salesforce Establishes New Credit Agreement with Bank of America
- Salesforce price target raised to $400 from $300 at Evercore ISI
- Nvidia (NVDA) Considers Investment in Musk’s AI Startup
- Salesforce (CRM) CEO In Talks to Sell Media Company Time Inc.