Salesforce has been added to Raymond James’ Existing Preferred Analyst

Salesforce has been added to Raymond James’ Existing Preferred Analyst

Written by Sam Bogda

Salesforce (NYSE:) shares were named a current favorite by analyst Raymond James, with the company writing that the software company “may be at an inflection point,” in a note on Monday.

In the note, Raymond James said he was surprised by the recent underperformance in CRM stock, “particularly given its ability to maintain margin guidance steady (despite upper-minimum expectations) and to mandate a $10 billion share buyback.”

The comments come ahead of this week’s CRM Analyst Day and User Conference “with messages likely to confirm a lasting healthy growth profile and more comfort on margins/mitigation,” the event could provide a positive catalyst for the stock, the analyst said.

“We love this risk/reward, and are making our current favorite analyst posts,” declared the analyst, who has a strong buy rating on CRM.

Elsewhere, an analyst Jefferies, with a buy rating and a $250 target price on CRM stock, told investors on a note that they expect CRM to provide innovative updates (Slack integration), and update F26 top-line targets (Street at $48 billion versus the previous target). $50 billion), giving higher margins on investor day.

“While we don’t expect upper line evidence for F24, we do expect margin comments (street at 21.6% vs. F23E at 20.4%). We also expect an F26 margin target (street at 25%) and a stock buyback timeline (the analyst announced $10 billion).

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