In a report released today, Brad Zelnick from Credit Suisse maintained a Buy rating on Salesforce (CRM), with a price target of $245.00. The company’s shares closed last Tuesday at $241.35.
According to TipRanks.com, Zelnick is a 5-star analyst with an average return of 18.7% and a 76.8% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Zoom Video Communications, and Palantir Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Salesforce with a $285.26 average price target, which is a 16.4% upside from current levels. In a report issued on November 22, Jefferies also maintained a Buy rating on the stock with a $320.00 price target.
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Based on Salesforce’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $5.15 billion and net profit of $2.63 billion. In comparison, last year the company earned revenue of $4 billion and had a net profit of $91 million.
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salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
