Salesforce: Wedbush raises target price
(CercleFinance.com) - Wedbush reaffirms its "outperform" rating on Salesforce and raises its price target from $240 to $255, "reflecting a stronger growth trajectory looking ahead", the day after the CRM software company's quarterly release.
The broker hails a "Djokovic-like performance", with a quarter of beaten expectations on both revenues and earnings, as well as higher targets, "driven by MuleSoft momentum and its overall subscription business".
"Importantly, strong CRM numbers and outlook is a huge barometer for the overall IT spending environment", it also points out.
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