Salesforce price target raised to $190 from $150 at Loop Capital

Loop Capital raised the firm’s price target on Salesforce to $190 from $150 but keeps a Hold rating on the shares after its Q4 results and guidance. The company has become a "margin expansion story" as its FY24 operating margin outlook of 27% represents a 450 basis point improvement for the year, the analyst tells investors in a research note. The firm added however that Salesforce continues to face the same macro-related headwinds it has experienced over the past two quarters, which is reflected in its cRPO trend as it continued to show a deceleration in its annual growth.