Piper Sandler raised the firm’s price target on Salesforce (CRM) to $335 from $315 and keeps an Overweight rating on the shares. The firm notes the Q2 growth guide for cRPO at 9% constant currency and the full-year revenue raise was better-than-feared and should be “good enough” for the value investor crowd trafficking in Salesforce, which has underperformed -17% year-to-date. Piper sees Informatica (INFA) acquisition confirming that Salesforce is back in the software M&A game, but with a more valuation sensitive mandate.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRM:
- Salesforce’s Growth Prospects Questioned Amid Mature Market Concerns
- Salesforce downgraded at RBC Capital on execution risk post Informatica deal
- Salesforce downgraded to Sector Perform from Outperform at RBC Capital
- Salesforce price target lowered to $347 from $425 at Barclays
- Salesforce Reports Record Earnings, Raises Guidance
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue