Wells Fargo analyst Michael Turrin lowered the firm’s price target on Salesforce to $265 from $275 and keeps an Overweight rating on the shares. The firm’s checks saw Q3 softness but optimism on Q4/2024, and meaningful price uplift were also consistent, suggesting Salesforce is focused on sustaining growth. With shares less than 20-times Wells’ 2024 EV/free cash flow, mixed feedback is mostly embedded and Salesforce likely a grinder from here.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CRM:
- OpenAI Saga Continues with the Return of Sam Altman
- Salesforce CEO offers to match any OpenAI researcher who resigned ‘full cash’
- The Dismissal and Possible Return of OpenAI’s Sam Altman
- Lone Pine exited Nvidia during Q3, bought Meta and made top holding
- Starboard Value buys Bloomin’ Brands, exits Splunk in Q3