- The shares of Salesforce.com, Inc. (NYSE: CRM) have received a $360 price target from Morgan Stanley. These are the details.
The shares of Salesforce.com, Inc. (NYSE: CRM) have received a $360 price target from Morgan Stanley. And Morgan Stanley analyst Keith Weiss reiterated an “Overweight” rating on the shares.
Weiss adjusted the rating on the belief that weak investor sentiment combined with a seasonally strong quarter set the stage for outperformance.
“Our conversations with investors highlight muted expectations into the Q4 print, concerns about the durability of revenue growth, and continued skepticism on margin expansion (based largely on doubts Salesforce will pause large M&A),” wrote Weiss in a research note. “On the other hand, our channel conversations highlight Q4 business with Salesforce largely ahead of expectations and a robust pipeline into (the first half). Our checks show little evidence of a pull-forward in sales and continued healthy demand as customers execute on Digital Transformation initiatives.”
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