UPDATE: Wolfe Research Starts salesforce.com (CRM) at Outperform

April 22, 2021 4:26 PM EDT
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Price: $216.50 -0.71%

Rating Summary:
    53 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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(Updated - April 22, 2021 4:40 PM EDT)

Wolfe Research analyst Alex Zukin initiates coverage on salesforce.com (NYSE: CRM) with a Outperform rating and a price target of $270.00.

The analyst comments "Continued beats and raises on the top and, more importantly, bottom line over a multiquarter (ideally multi-year) time horizon are key to unlocking relative outperformance. With guidance set conservatively and risk-adjusted for the Slack acquisition, we see the potential for significant bottom-line outperformance that can reinvigorate the shareholder base. This, combined with a greater potential for a lull in M&A activity over the next 12-18 months combines for a favorable setup for share outperformance in the current environment."

For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.

Shares of salesforce.com closed at $230.56 yesterday.

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