Salesforce Maintains Bullish Rating Amid Strong Earnings Growth

Investment analysts at Needham & Company LLC have reaffirmed their 'buy' rating for Salesforce (NYSE:CRM), setting a target price of $400.00, which represents a potential upside of 57.13% from its previous close.

This is not the only analyst to express optimism about Salesforce's prospects. TD Cowen has also boosted its price target on the stock from $240.00 to $280.00 and given it a 'buy' rating in a research note on Thursday, August 27th.

However, not all analysts are as bullish. Phillip Securities lowered shares of Salesforce from a 'buy' rating to a 'hold' rating and lowered their price objective for the company from $253.00 to $166.00 in a research report on Monday, June 29th.

Salesforce has been performing well, with its latest quarter producing revenue of $11.35 billion, beating analysts' consensus estimates by 0.2%. The company's quarterly revenue was up 10.8% compared to the same period last year.