Salesforce (CRM) has received a fresh Buy rating from BMO Capital analyst Keith Bachman, who set a price target of $285.00. The stock closed yesterday at $242.43. Bachman, who covers the Technology sector, has a track record of a 9.7% average return and a 53.46% success rate on recommended stocks.
The broader analyst consensus for Salesforce is Strong Buy, with an average price target of $279.97. This implies a potential 15.48% upside from the current share price. BTIG also maintained a Buy rating on the stock, with a higher price target of $300.00.
Salesforce's latest earnings report for the quarter ending July 31 showed strong growth. The company reported quarterly revenue of $11.35 billion and a net profit of $3.53 billion. This compares to revenue of $10.24 billion and a net profit of $1.89 billion in the same period last year.
Corporate insider sentiment for Salesforce is currently neutral. Last month, Director David Blair Kirk purchased 4,176 shares for a total of $999,442.08.