Analyst Ratings Coverage
BMO Capital Markets reiterated an “Outperform” rating for Salesforce, raising the target price from USD 252 to USD 277 on 11/30/2023. The optimism is based on their positive assessment of Salesforce’s performance.
Wedbush Securities maintained an “Outperform” rating and increased the target price from USD 255 to USD 280 on the same date, showcasing confidence in Salesforce’s future prospects.
Morgan Stanley & Co. opted for an “Equal-Weight” rating but raised the target price from USD 278 to USD 290 on 11/30/2023, indicating a cautious optimism about Salesforce’s performance.
Oppenheimer & Co. reiterated an “Outperform” rating and raised the target price from USD 250 to USD 275, expressing continued confidence in Salesforce’s outlook.
Needham & Company maintained a positive stance, reiterating a “Buy” rating, and raised the target price from USD 250 to USD 275, reflecting a favorable view of Salesforce’s growth potential.
Wells Fargo & Company kept an “Overweight” rating, raised the target price from USD 265 to USD 280 on 11/30/2023, indicating confidence in Salesforce’s performance.
JMP Securities expressed a positive market outlook, maintaining a “Market Outperform” rating, and raising the target price from USD 275 to USD 293.
RBC reaffirmed their positive outlook with an “Outperform” rating, increasing the target price from USD 240 to USD 285.
Bank of America Merrill Lynch maintained a “Buy” rating, raised the target price from USD 280 to USD 300, reflecting a bullish perspective and heightened confidence in Salesforce’s growth.
Piper Jaffray Companies maintained a more neutral stance with a “Neutral” rating, raising the target price from USD 232 to USD 266 on 11/30/2023.
Salesforce Stock Analysis
The Salesforce.com Inc stock forecast, as evaluated by 32 analysts, suggests an average target price of USD 253.41 over the next 12 months. This consensus reflects a positive sentiment among analysts regarding the company’s future performance. Additionally, the average analyst rating for Salesforce.com Inc is categorized as “Strong Buy,” indicating a high level of confidence in the stock’s potential growth.
Stock Target Advisor, after conducting its own analysis, characterizes Salesforce.com Inc’s stock as “Slightly Bullish.” This assessment is based on 5 positive signals and 3 negative signals identified by the analysis. The combination of positive and negative indicators contributes to a nuanced outlook that leans towards bullish sentiment but acknowledges certain factors that may warrant caution.
As of the last closing, Salesforce.com Inc’s stock price stood at USD 230.35. Notably, the stock has experienced positive momentum in recent periods, with a change of +2.91% over the past week, +17.18% over the past month, and a substantial +51.87% increase over the last year. These figures underscore the stock’s upward trajectory and suggest a favorable market response to Salesforce.com Inc’s performance.+
