CRM - Salesforce Poised For Continued Growth Despite Forex Headwinds And AI Development Delays Says Analyst | Benzinga
Wells Fargo analyst Michael Turrin maintained Salesforce Inc (NYSE:CRM) with an Equal-Weight and lowered the price target from $310 to $300.
Oppenheimer analyst Brian Schwartz reiterated an Outperform rating on Salesforce with a price target of $325.
Schwartz’s earnings preview research mosaic points to mixed business trends and negative FX headwinds in the first quarter of fiscal 2025, which foretell little change to estimates and fundamentals but durable margin improvement and EPS growth that support valuation multiples.
Also Read: Salesforce’s AI Innovations, Partner Network Expansion Impress Analyst
The analyst’s field checks were mixed for Salesforce’s business momentum and engagement levels during the first quarter, which likely reflects seasonality and back-office software continuing as the priority investment in enterprise IT budgets. Positively, enterprise IT budgets are more significant this year, which should support price increases and achieve first-quarter consensus estimates, as he said that Salesforce remains a vendor consolidator and strategic supplier to enterprise organizations.
Positively, expectations are low ahead of the print. The analyst said Salesforce’s pricing, platform business, and Data Cloud appear intact this ...