FMP

FMP

Enter

Salesforce Stock Soars 4% Following Price Increase Announcement

- (Last modified: Dec 19, 2023 6:49 PM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Salesforce.com (NYSE:CRM) shares gained more than 4% intra-day today after the company announced a 9% price increase across various products.

Evercore ISI reiterated an Outperform rating and a price target of $240.00 on the company, highlighting that this is the first price hike in seven years for Salesforce, during which the company has made significant investments of over $20 billion in research and development and introduced 22 software releases with numerous features. This includes recent additions such as the AI Cloud and 'GPT' capabilities across its clouds.

The analysts believe that while some customers may express dissatisfaction with the price increase, considering the seven-year interval, a 9% increase seems reasonable. The analysts expect these price actions to provide positive momentum for Salesforce in the second half of 2024 and the first half of 2025.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title

May 27, 2024 3:30 PM - Rajnish Katharotiya

The best 5 GPU stocks other than NVDA

In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep