Salesforce Gets Price Target Hikes By Analysts After Q1 Results
Portfolio Pulse from Lisa Levin
Salesforce (NYSE:CRM) reported better-than-expected Q1 earnings and sales, with revenue of $8.25 billion and EPS of $1.69. Analysts have raised their price targets following the announcement, but shares dropped 6% in pre-market trading.
June 01, 2023 | 11:12 am
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Salesforce reported strong Q1 results, beating expectations. Analysts raised price targets, but shares dropped 6% in pre-market trading.
Salesforce reported better-than-expected Q1 results, which should be positive for the stock. However, the 6% drop in pre-market trading indicates that the market may have already priced in the strong results. The raised price targets by analysts could provide some support for the stock, but the short-term impact is uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100