Stocks
Stifel Sticks to Buy Rating on Salesforce Amid Revenue Growth
Stifel has maintained its Buy rating and $275 price target on Salesforce shares. The firm noted that the company's revenue acceleration story has led to a meaningful re-rating throughout the summer.
The second fiscal quarter results showed a notable increase in NNAOV growth, reaching its highest point in four years, which supports subscription and support acceleration in the second half of the fiscal year.
Salesforce posted revenue growth of 11.23% over the last twelve months, with an impressive gross profit margin of 77.28%. The stock's 25.81% gain over the past six months reflects this positive momentum.