Shares of Salesforce Inc (NYSE: CRM) spiked in early trading on Thursday, after the company reported better-than-expected quarterly results and issued strong guidance.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
BMO Capital Markets On Salesforce
Analyst Keith Bachman maintained an Outperform rating, while raising the price target from $255 to $262.
Salesforce delivered a strong quarter, with revenue upside and a healthy margin performance, Bachman said in a note. “Moreover, we believe the 10% y/y CC CRPO guide hit the bar for investors as good enough alongside continued margin expansion,” he wrote.
Margin expansion and free cash flow growth are likely to continue, and the company’s growth “should be helped by AI solutions and pricing as well over the next few years,” the analyst added.
Stifel On Salesforce
Analyst Parker Lane reiterated a Buy ...