Salesforce Shares Jump 2.8% Amid Analyst Optimism

Salesforce shares rose 2.8% on Tuesday, reaching as high as $199.41 before settling at $196.28. Approximately 13.64 million shares were traded during mid-day trading.

Analysts have been bullish on the company, with Wedbush and Evercore issuing 'outperform' ratings. Daiwa Securities Group cut its price target from $295 to $280 but still maintains a 'buy' rating.

The company's market cap is over $160 billion, with a PE ratio of 22.72 and beta of 1.16. Salesforce has set its FY2027 guidance at $14.06-14.12 EPS, and analysts expect $10.27 EPS for the current fiscal year.