Market Overview

UPDATE: Atlantic Equities Upgrades salesforce.com on Multiple Positive Factors

Share:

In a report published Monday, Atlantic Equities analyst Chris Hickey upgraded the rating on salesforce.com (NYSE: CRM) from Neutral to Overweight, and reiterated the $67.00 price target.

In the report, Atlantic Equities noted, “We upgrade Salesforce.com to Overweight from Neutral. We expect the company to double revenue over the next three years, driven by secular SAAS tailwinds, a benign competitive environment and a new focus on the enterprise opportunity. We also expect less M&A and a return to margin expansion, which should help sentiment. Valuation requires Salesforce to ultimately diversify beyond CRM but we are more optimistic here than in the past.”

salesforce.com closed on Friday at $53.96.

Latest Ratings for CRM

DateFirmActionFromTo
Mar 2020Morgan StanleyMaintainsOverweight
Mar 2020OppenheimerMaintainsOutperform
Feb 2020CFRAUpgradesBuyStrong Buy

View More Analyst Ratings for CRM
View the Latest Analyst Ratings

 

Related Articles (CRM)

View Comments and Join the Discussion!

Posted-In: Atlantic Equities Chris HickeyAnalyst Color Upgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
RIGRF LaffertyMaintains5.0
NOVRF LaffertyMaintains13.0
WSCDA DavidsonMaintains19.0
ITTDA DavidsonReiterates70.0
NOWGoldman SachsMaintains376.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com