Salesforce price target raised to $325 from $300 at Barclays

Barclays raised the firm’s price target on Salesforce to $325 from $300 and keeps an Overweight rating on the shares. The analyst sees a continuation from the on-cycle trends for the off-cycle software earnings reporters, namely a solid Q4 and conservative guidance for the coming fiscal 2024. It will be tough calling the actual direction of share movements with such a set-up “given the greatly increased optimism,” the analyst tells investors in a research note. The firm prefers to stay conservative on the group but likes Salesforce into the print.