JPMorgan Chase Raises Salesforce Price Target to $265

Analysts at JPMorgan Chase & Co. have raised their price target for Salesforce (NYSE:CRM) stock from $250 to $265, indicating a potential upside of 5.15% from its previous close.

The brokerage currently has an 'overweight' rating on the CRM provider's stock, which has seen a trading volume of 44,615,127 shares compared to its average volume of 13,829,271.

Salesforce reported adjusted Q2 earnings of $5.90 per share, well above the $3.27 consensus estimate, while revenue increased 10.8% year over year to $11.35 billion, slightly ahead of expectations.