Wells Fargo Analyst Predicts Upside for Salesforce Stock
Salesforce's (NYSE:CRM) stock price may see an increase according to Wells Fargo & Company analyst. The firm raised their target price from $200.00 to $205.00 in a research report issued on Wednesday. This indicates a potential upside of 3.88% from the previous close.
The majority of analysts have given Salesforce a 'Moderate Buy' rating, with two investment analysts giving it a 'Strong Buy' rating and twenty-six analysts issuing a 'Buy' rating. The consensus target price is $249.64, which is higher than the current market capitalization of $161.63 billion.
The company has seen significant growth in revenue, with the last quarter's revenue up 13.3% compared to the same quarter last year. Salesforce's quarterly earnings results were released on May 27th, beating analysts' consensus estimates by $0.75 per share.