Salesforce Stock Upgraded to Buy Amid Strong Earnings Guidance

Salesforce's stock price surged after it received an upgrade from Erste Group Bank to 'buy' from 'hold'. This marks a shift in sentiment following several analyst reports on the company.

The CRM provider reported $3.88 EPS for its latest quarter, exceeding analysts' consensus estimates of $3.13 by $0.75.

Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and Q2 2027 guidance at 3.250-3.270 EPS, with a net margin of 18.73% and return on equity of 18.72%. Analysts predict the company will post 10.27 earnings per share for the current fiscal year.

The stock has an average rating of 'Moderate Buy' and an average price target of $249.51, with 2,838,672 shares exchanged on Wednesday compared to its average volume of 13,742,835.