Bernstein raised the firm’s price target on Salesforce (CRM) to $255 from $243 and keeps an Underperform rating on the shares. The firm notes Salesforce delivered very much of an in-line quarter, beating on revenue and missing consensus on margins, but FX accounted for most of the revenue beat and all the full year guide increase. The bigger story of the quarter was the announcement of the Informatica (INFA) deal, which Bernstein thinks was a reasonable acquisition at a reasonable/good price.
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Read More on CRM:
- Salesforce price target raised to $404 from $393 at Morgan Stanley
- Salesforce price target lowered to $370 from $380 at Oppenheimer
- Salesforce price target raised to $335 from $315 at Piper Sandler
- Salesforce’s Growth Prospects Questioned Amid Mature Market Concerns
- Salesforce downgraded at RBC Capital on execution risk post Informatica deal
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