Truist Financial Reaffirms Buy Rating for Salesforce with Upside Potential

Research analysts at Truist Financial have reaffirmed their 'buy' rating for Salesforce (NYSE:CRM) stock. This is not a new development, as analysts have been weighing in on the CRM provider's performance throughout the year.

In a note issued to investors on Thursday, Truist Financial set a price objective of $300.00 on Salesforce stock, up from their previous target of $280.00. This suggests a potential upside of 45.62% from the stock's previous close of $206.01.

This rating is in line with other positive sentiment regarding Salesforce. The company has been beating earnings expectations, with adjusted earnings of $5.90 per share for the quarter, exceeding the consensus estimate of $3.27 by $2.63. Revenue rose 10.8% year over year to $11.35 billion, slightly above estimates.