salesforce.com (CRM) PT Raised to $360 at BofA Securities, 'A multi-year AI growth cycle coming into view'
BofA Securities analyst Brad Sills raised the price target on salesforce.com (NYSE: CRM) to $360.00 (from $350.00) while maintaining a Neutral rating.
The analyst comments "Salesforce reported solid Q4 results with revenue and margin upside from strength inlarge deals (deals >$10mn + 80% y/y). Q4 cRPO growth of 13% constant currency nicelyexceeded our 11% (and 12% upside case), with balanced strength across core Sales andService Clouds as well as early Data Cloud strength (included in 25% of deals > $1mn).Guidance for Q1 cRPO of 12% y/y cc is nicely above our +10% y/y est, supported bysolid pipelines, though the FY25 outlook for total revenue growth of 8% to 9% isimpacted by a prof services headwind (13% y/y in our model). The outlook for FY25margin at 32.5% is nicely above our 32% from solid ongoing focus on productivity gains."