salesforce.com (CRM) PT Raised to $235 at DA Davidson

DA Davidson analyst Gil Luria raised the price target on salesforce.com (NYSE: CRM) to $235.00 (from $225.00) while maintaining a Neutral rating.

The analyst commented: "Salesforce reported lower than expected revenue this quarter, but a strong bottom line beat that flowed through to the FY guide. On an organic basis Salesforce reiterated its 8% CC subscription and support growth guide for FY26, and maintained its Non-GAAP operating margin target of 34.1%. Management noted that it remains on track to reaccelerate revenue growth in 12 to 18 months which we have a hard time underwriting given the rising competition for AI related IT budgets. Given this, we are maintaining our NEUTRAL rating and revising our PT to $235 based on 18x our updated FY27 EPS estimate."

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