FMP
Salesforce Price Target Raised at RBC Capital
Sep 24, 2021 10:44 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Analysts at RBC Capital increased their price target on salesforce.com, inc. (NYSE:CRM) to $325 from $310 following their Dreamforce and the accompanying investor day attendance. According to the brokerage, the main highlight was margin commentary (particularly continued expansions on unit economics) and 2023 guidance that seems to imply ~300 bps of op. margin expansion ex-Slack.
Other takeaways the analysts highlighted include more granular insights into Salesforce’s M&A track record (which impressively showed some assets accelerating revenues at significantly larger scales) and the continued rapid integration of Slack.
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