Piper Sandler analyst Brent Bracelin raised the firm’s price target on Salesforce to $230 from $171 and keeps an Overweight rating on the shares. Triple-digit EPS growth to $1.68 during Q4 on a 29% operating margin is suggestive of the material profit unlock potential that lies ahead for a $30B+ subscription revenue model with high gross margins of 78%+, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on CRM:
- Salesforce price target raised to $220 from $200 at Wedbush
- Evercore says Salesforce can be ‘one of best’ cash flow stories in software
- Salesforce price target raised to $215 from $180 at Canaccord
- Salesforce upgraded to Buy at Needham on increasing margin leverage
- Salesforce price target raised to $190 from $170 at TD Cowen