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.
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