On May 25, 2023, Wedbush analyst Daniel Ives announced that he is maintaining an Outperform rating on Salesforce (NYSE:CRM) and increasing the price target from $220 to $230. According to Capital IQ, analysts have given Salesforce an average Outperform rating with price targets ranging from $145 to $325. The current analyst consensus on Salesforce is a Moderate Buy with an average price target of $192.16, indicating a potential upside of 16.34%. Wedbush analysts previously wrote in a note to clients that they were retaining their Outperform rating and price target of $200, but in March 2022, they lowered the price target, citing the stock as “way oversold.” Despite this, Wall Street analysts anticipate that the CRM stock price will climb in the coming year, with an average 1-year price target of $230.
CRM Stock Performance and Earnings Growth in 2023: A Comprehensive Overview
On May 25, 2023, CRM stock opened at $206.00, a decrease from the previous close of $209.06. The day’s range was between $205.53 and $210.24, with a volume of 35,726 shares traded. The market cap for CRM was $205.9B.
The earnings growth for CRM was -86.13% last year, but it has increased by 36.23% this year. The earnings growth over the next five years is expected to be 20.00%. The revenue growth for the company was 18.35% last year.
The next reporting date for CRM is June 1, 2023. The EPS forecast for this quarter is $1.61. The annual revenue for the company last year was $31.4B, with an annual profit of $208.0M. The net profit margin for CRM was 0.66%.
CRM operates in the technology services sector, specifically the packaged software industry. The company is headquartered in San Francisco, California.
In conclusion, CRM’s stock performance on May 25, 2023, showed a decrease in the opening price, but the company has seen positive earnings growth this year and is expected to continue to grow over the next five years. The company operates in the technology services sector and is headquartered in San Francisco, California.
Salesforce Inc Stock Performance Watched Closely by Investors and Analysts on May 25, 2023
On May 25, 2023, Salesforce Inc’s stock performance was closely watched by investors and analysts alike. According to data from CNN Money, the 41 analysts offering 12-month price forecasts for Salesforce Inc had a median target of 227.00, with a high estimate of 325.00 and a low estimate of 145.00. This median estimate represented an +8.61% increase from the last price of 209.00.
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