Salesforce's Q4 Earnings Potential Bolstered by Generative AI and Market Optimism, Analysts Forecast
Portfolio Pulse from Anusuya Lahiri
Salesforce's Q4 earnings are anticipated to be positively influenced by generative AI and market optimism. Citi analyst Tyler Radke maintains a Neutral rating but raises the price target from $265 to $325, citing mixed signals but a modestly positive outlook. Morgan Stanley analyst Keith Weiss, holding an Overweight rating, raises his price target to $350, highlighting potential for a revenue re-acceleration and efficiency gains. CRM shares saw a 3.46% increase to $302.99.
February 26, 2024 | 5:45 pm
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Salesforce's Q4 earnings outlook is positive with expectations of revenue and EPS beats. Citi and Morgan Stanley analysts have raised their price targets to $325 and $350, respectively, reflecting optimism around generative AI and market conditions.
The positive adjustments in price targets by analysts from Citi and Morgan Stanley, coupled with the anticipated revenue and EPS beats, suggest a strong short-term outlook for Salesforce. The emphasis on generative AI and efficiency gains as key drivers, along with the recent share price increase, further supports a likely upward movement in CRM's stock price in the short term.
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