Merrill Lynch analyst Bradley Sills reiterated a Buy rating on Salesforce (CRM) today and set a price target of $300.00. The company’s shares closed last Monday at $242.85.
According to TipRanks.com, Sills is a 5-star analyst with an average return of 28.0% and a 73.4% success rate. Sills covers the Technology sector, focusing on stocks such as Coupa Software, Veeva Systems, and ServiceNow.
Currently, the analyst consensus on Salesforce is a Strong Buy with an average price target of $275.88, which is a 12.9% upside from current levels. In a report issued on February 16, Jefferies also reiterated 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 October 31, the company reported a quarterly revenue of $5.42 billion and net profit of $1.08 billion. In comparison, last year the company earned revenue of $4.51 billion and had a GAAP net loss of $109 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.
