Northland analyst Nehal Chokshi raised the firm’s price target on Salesforce (CRM) to $267 from $264 and keeps a Market Perform rating on the shares after the company reported “strong growth,” but still “within typical historical” growth levels. Short-term billings are “yet to break the critical 10-12% levels” and organic cRPO constant currency guide growth is “still short of the 10% threshold,” the analyst tells investors.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRM:
- Morgan Stanley says Salesforce comments show competition ‘heating up’ for Veeva
- Morning Movers: Genesco, Build-A-Bear slide following quarterly results
- Salesforce price target lowered to $340 from $360 at Evercore ISI
- Salesforce price target lowered to $275 from $280 at BMO Capital
- Salesforce price target raised to $223 from $221 at Bernstein