Cantor Fitzgerald Reiterates 'Overweight' Rating for Salesforce
Salesforce (NYSE:CRM) has received an 'overweight' rating from Cantor Fitzgerald, which also set a price target of $300.00 per share for the company's stock.
This is not the only rating Salesforce has received lately; Citigroup reaffirmed its 'neutral' rating on the CRM provider's shares in a research report on Thursday. Macquarie Infrastructure cut its price target on shares from $200.00 to $190.00 and set a 'neutral' rating for the company.
The analysts at Cantor Fitzgerald expect a potential upside of 19.70% from Salesforce's current stock price, which currently stands at $250.64 per share as of Thursday's opening. The business's 50-day simple moving average is $205.81 and its 200-day simple moving average is $188.56.
Salesforce has a market capitalization of $206.27 billion, a P/E ratio of 22.85, and a beta of 1.20. The company's quarterly revenue was up 10.8% compared to the same quarter last year, with earnings per share at $5.90 beating the consensus estimate by $2.63.