- Analysts slashed their price targets on Salesforce.com Inc (NYSE:CRM) ahead of its quarterly results.
- Cowen analyst J. Derrick Wood lowered the price target to $285 from $325 (36% upside) and kept an Outperform.
- The analyst previewed its upcoming results. While his reads on Government and MULE are more mixed, he still expects a solid beat and raise and is encouraged that 91% of their partners see 2023 pipeline growth.
- BMO Capital analyst Keith Bachman lowered the price target to $240 from $335 (14% upside) amid compression in software multiples but kept an Outperform.
- The company can sustain double-digit growth, with upselling and new solution offerings contributing to growth.
- Price Action: CRM shares traded higher by 1.13% at $210.45 on the last check Monday.
