Salesforce

Salesforce (CRM) late Wednesday reported higher-than-expected fiscal fourth-quarter results, driven by a double-digit rise in subscription and support revenue, while the software maker’s top-line outlook for the year trailed Wall Street’s estimates. Adjusted per-share earnings rose to $2.29 during the three months ended Jan. 31 from $1.68 a year earlier, topping the consensus on Capital IQ of $2.27. Revenue gained 11% to $9.29 billion, compared with the Street’s $9.22 billion view. Subscription and support revenue gained 12% to $8.75 billion, while professional services and other fell 9% to $539 million. Salesforce said it expects fiscal 2025 revenue of $37.7 billion to $38 billion, which would fall short of the $38.61 billion consensus estimate. The company forecast adjusted EPS of $9.68 to $9.76, compared with analysts’ expectations of $9.58. Salesforce’s shares were down 4% in after-hours trade. For the current quarter, the company projects adjusted EPS at $2.37 to $2.39 on […]

Citigroup analyst Tyler Radke maintains Salesforce with a Neutral and raises the price target from $265 to $325.

Salesforce (CRM) approaches the Q4 earnings with stable checks, price hikes, and an easier bookings comp, reflecting a positive setup, “while valuation remains undemanding,” Morgan Stanley said Monday in a report. Positive performance in Sales Cloud, strong showings in Industries/MuleSoft, and underperforming Marketing defined the quarter. “Positive partner commentary on Data Cloud reaffirms our view of Salesforce’s underappreciated positioning ahead of future GenAI product adoption,” the note said. Clarity on Data Cloud and consumption pricing for Einstein 1, the company’s conversational AI assistant integrated into every Salesforce application, coupled with a higher 2025 non-GAAP EPS, positions Salesforce for growth with significant upside potential, Morgan Stanley said. Salesforce is performing in line with “Large Cap Software intra-quarter,” and maintains a valuation discount despite favorable factors. With an easier bookings comp, stable checks, and ongoing price increases, “we view Salesforce’s upcoming [fourth quarter] earnings as a likely positive catalyst for shares,” the

Salesforce (CRM) could see incremental growth levers emerging in its new bundling strategy and generative AI product cycle amid macro headwinds, RBC Capital Markets said in a note. “We view an initial FY25 growth guide of 10% as the most likely scenario, at least until there is more visibility into tangible benefits from the aforementioned growth levers or a better macro,” said RBC analysts, including Rishi Jaluria. Following its quarterly checks, RBC said the majority of Salesforce contracts up for renewal seemed to be taking the 9% price increase, while an increase in deal volumes appeared to be counterbalanced by a decrease in large-sized deals. It also said that Einstein GPT was being adopted but it was still in the trial phase. The company will release its fiscal Q4 results on Feb. 28.

Salesforce (CRM) will likely have mixed business trends in fiscal Q4 results, but with durable margin improvement and earnings per share growth, Oppenheimer said in a note Wednesday. Salesforce will report its Q4 results next Wednesday. Oppenheimer estimates revenue of $9.22 billion and pro forma EPS of $2.26. The investment firm’s data “around demand and pipeline momentum were mixed for [Salesforce’s] business” in the quarter, according to the note. Salesforce’s operating environment appears mostly the same as Q3 despite improved seasonality, “while the investor expectations and estimate risk appears low,” Oppenheimer said. The company is also likely to sustain double-digit revenue growth in fiscal year 2025, driven by factors including increased multiproduct penetration, pricing and AI adoption. The investment firm reiterated its outperform rating and $325 price target for Salesforce.

Salesforce (NYSE:CRM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/21/2024 16.4% Stifel $300 → $330 Maintains Buy 02/16/2024 9.35% UBS $285 → $310 Maintains Neutral 02/12/2024 14.64% Oppenheimer $300 → $325 Maintains Outperform 01/23/2024 9.35% Baird $300 → $310 Maintains Outperform 01/22/2024 3.35% JMP Securities → $293 Reiterates Market Outperform → Market Outperform 01/11/2024 5.82% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 0.53% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 23.46% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 -1.23% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 11.11% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 2.29% Argus Research $275 → $290 Maintains Buy 11/30/2023 2.29% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 5.82% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 5.82% Stifel $275 → $300 Maintains Buy

Salesforce (NYSE:CRM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 6.52% UBS $285 → $310 Maintains Neutral 02/12/2024 11.67% Oppenheimer $300 → $325 Maintains Outperform 01/23/2024 6.52% Baird $300 → $310 Maintains Outperform 01/22/2024 0.68% JMP Securities → $293 Reiterates Market Outperform → Market Outperform 01/11/2024 3.08% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 -2.07% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 20.26% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 -3.79% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 8.24% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 -0.35% Argus Research $275 → $290 Maintains Buy 11/30/2023 -0.35% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 3.08% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 3.08% Stifel $275 → $300 Maintains Buy 11/30/2023 -5.51% Truist Securities → $275 Reiterates Buy

Salesforce (NYSE:CRM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/23/2024 12.1% Baird $300 → $310 Maintains Outperform 01/22/2024 5.95% JMP Securities → $293 Reiterates Market Outperform → Market Outperform 01/11/2024 8.48% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 3.06% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 26.56% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 1.25% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 13.9% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 4.86% Argus Research $275 → $290 Maintains Buy 11/30/2023 4.86% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 8.48% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 8.48% Stifel $275 → $300 Maintains Buy 11/30/2023 -0.56% Truist Securities → $275 Reiterates Buy → Buy 11/30/2023 -5.98% JP Morgan $240 → $260 Maintains Overweight 11/30/2023 5.95% JMP Securities $275

Salesforce (NYSE:CRM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/11/2024 12.23% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 6.62% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 30.93% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 4.75% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 17.84% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 8.49% Argus Research $275 → $290 Maintains Buy 11/30/2023 8.49% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 12.23% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 12.23% Stifel $275 → $300 Maintains Buy 11/30/2023 2.88% Truist Securities → $275 Reiterates Buy → Buy 11/30/2023 -2.73% JP Morgan $240 → $260 Maintains Overweight 11/30/2023 9.61% JMP Securities $275 → $293 Maintains Market Outperform 11/30/2023 4.75% Mizuho $255 → $280 Maintains Buy 11/30/2023 2.88% Oppenheimer $250 → $275 Maintains

Baird analyst Rob Oliver upgrades Salesforce (NYSE:CRM) from Neutral to Outperform and raises the price target from $240 to $300.

Salesforce (NYSE:CRM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/02/2024 9.61% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 34.61% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 7.68% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 21.14% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 11.53% Argus Research $275 → $290 Maintains Buy 11/30/2023 11.53% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 15.38% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 15.38% Stifel $275 → $300 Maintains Buy 11/30/2023 5.76% Truist Securities → $275 Reiterates Buy → Buy 11/30/2023 -0.01% JP Morgan $240 → $260 Maintains Overweight 11/30/2023 12.68% JMP Securities $275 → $293 Maintains Market Outperform 11/30/2023 7.68% Mizuho $255 → $280 Maintains Buy 11/30/2023 5.76% Oppenheimer $250 → $275 Maintains Outperform 11/30/2023 6.53% BMO Capital $252 → $277 Maintains Outperform

Piper Sandler analyst Brent Bracelin maintains Salesforce (NYSE:CRM) with a Neutral and raises the price target from $266 to $285.