Salesforce price target raised to $220 from $200 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on Salesforce to $220 from $200 and keeps an Outperform rating on the shares. With activists swirling and Street frustration at a boiling point, "Benioff & Co. with its back against the wall delivered a monster quarter and guide for the ages that will silence the doubters," the firm says. Wedbush also notes that Salesforce gave guidance that was much better-than-expected with a 2024 outlook that has strong growth and margins on its trajectory heading towards the elusive 30% goal a few years before the Street ever thought it would see it.