- Shares of Salesforce.com, Inc. (NYSE: CRM) received a target of $ 320 from JMP Securities. These are the details.
Shares of Salesforce.com, Inc. (NYSE: CRM) received a target of $ 320 from JMP Securities. And JMP Securities analyst Patrick Walravens maintains an outperformance rating on equities ahead of the second quarter earnings announcement scheduled for August 25.
Walravens had raised the price target by $ 282. And Walravens pointed out that the company’s quarterly channel checks were mostly positive, according to The Fly.
Additionally, one of the highlights of the channel checks included a significant ten-figure deal with a networking company. And there were also comments on other important transactions in general.
Walravens calculated the new price target on the basis of an enterprise value over the expected 2022 revenue multiple of 9.3 times, up from 8.2 times previously. But it’s still 20% off the SaaS peer group median multiple of 11.5 times.
A few days ago, Goldman Sachs also adjusted its price target on Salesforce from $ 320 to $ 335. And Goldman Sachs has maintained a “Buy” rating on the company’s shares.
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