Followers | 682 |
Posts | 141703 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Monday, February 13, 2023 12:50:00 PM
By: Investing.com | February 13, 2023
BofA Securities analysts lifted the firm's price target on Salesforce (NYSE:CRM) to $200 from $180 per share, telling investors Monday that it is emerging as a "quality" Growth at a Reasonable Price (GARP) stock.
However, analysts, who maintained a Buy rating on CRM, did lower the FY24 revenue estimate.
"Partner commentary suggests fairly muted Q4 activity, not surprising given disruption from recent restructuring. Still, most partners cited inline results against lower expectations," wrote analysts. "While commentary suggests largely stable Commerce and Marketing Cloud activity in Q4, we did note some slowdown in pipeline builds for these offerings in a somewhat more heightened competitive environment."
BofA expects Q4 revenue and cRPO growth to be largely in line with its estimates for 11% cc and 10% cc, respectively, with "perhaps modest upside to reported growth from currency."
Even so, the analysts state that CRM is on the path for consistent 30%+ annual FCF growth.
"While partners suggest some waning FY24 pipeline visibility, most cited pipeline growth, consistent with Q4 deal activity. We expect guidance for FY24 rev growth to be consistent with Q4 cRPO level of 10% cc. We are lowering our FY24E rev est to $33.96bn (+10%, +9% cc) from $34.2bn," analysts explain. "We continue to believe that Salesforce is emerging as the next quality GARP stock in software."
Salesforce shares are up more than 1% so far on Monday.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent CRM News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 09:07:08 PM
- Futures Turn Positive Following Closely Watched Inflation Data • IH Market News • 05/31/2024 01:20:44 PM
- U.S. Index Futures Dip in Pre-Market Amid Earnings Assessments and Upcoming Inflation Report • IH Market News • 05/31/2024 11:51:14 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:56:04 PM
- U.S. Stocks Slump Ahead Of Inflation Data, Salesforce Weighs On Dow • IH Market News • 05/30/2024 08:30:01 PM
- Dow Likely To See Further Downside Amid Steep Drop By Salesforce • IH Market News • 05/30/2024 01:10:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 08:26:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 08:20:43 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/29/2024 08:03:58 PM
- Salesforce Announces First Quarter Fiscal 2025 Results • Business Wire • 05/29/2024 08:01:00 PM
- US Index Futures Drop Amid Rising Treasury Yields and Inflation Concerns, Oil Prices Increase • IH Market News • 05/29/2024 11:28:38 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/28/2024 08:57:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:49:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:13:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:08:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:05:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:00:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:59:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:53:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:48:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:44:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:36:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:26:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 08:22:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 10:09:33 PM
ILUS Provides an Update on the Binding Term Sheet Signed with Actelis Networks (NASDAQ: ASNS) • ILUS • May 31, 2024 12:52 PM
Element79 Gold To Provide Summary and Update on Active Exploration Program, Community Relations at RMEC on June 4 • ELEM • May 30, 2024 1:18 PM
Branded Legacy Secures Exclusive Extraction Partnership with One of the World's Largest Kava Distributors and Producers • BLEG • May 30, 2024 8:30 AM
ECGI Holdings, Inc. Announces $2 Million Debt-to-Equity Conversion • ECGI • May 30, 2024 8:30 AM
North Bay Resources Reports Assays up to >25% Mg, 0.1% Ni, 0.1% Cu, 0.01% Co, 0.3 ppm Pt at Tulameen Platinum Project, British Columbia • NBRI • May 29, 2024 9:03 AM
One World Products, Inc. Issues Shareholder Update • OWPC • May 29, 2024 8:20 AM