Stifel Nicolaus Puts Price Target of $275 on Salesforce Stock

Salesforce, the cloud-based software company, has received a buy rating from Stifel Nicolaus analyst J. Parker Lane, who also set a price target of $275.00 for the stock.

This recommendation comes after Salesforce released its latest earnings report for the quarter ending April 30, which showed quarterly revenue of $11.13 billion and net profit of $2.11 billion. This represents a significant increase from last year's figures, with revenue up 13% to $9.83 billion and net income rising by 37% to $1.54 billion.

In addition to Stifel Nicolaus, Goldman Sachs analyst Gabriela Borges has also given Salesforce a buy rating, although Citi maintained a hold rating on the stock.