William Blair analyst Arjun Bhatia has maintained their bullish stance on CRM stock, giving a Buy rating on January 24.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Arjun Bhatia’s rating is based on the strategic appointment of Robin Washington as Salesforce’s new chief operating and financial officer. Washington’s extensive experience, highlighted by her role as a former CFO at Gilead Sciences and board memberships at major companies like Alphabet and Honeywell, positions her as a highly capable leader who can drive Salesforce’s financial and operational strategy effectively.
Washington’s long-standing relationship with Salesforce, having been a board member since 2013 and the lead independent director since 2022, suggests she has a deep understanding of the company’s inner workings. This familiarity with Salesforce, coupled with her strategic vision, is expected to facilitate a seamless transition into her new role, potentially leading to a more streamlined leadership structure within the company. As such, Bhatia is optimistic about the potential positive impact on Salesforce’s performance, justifying the Buy rating.
In another report released on January 24, Bank of America Securities also assigned a Buy rating to the stock with a $440.00 price target.
Based on the recent corporate insider activity of 353 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.