Following Salesforce full-fiscal year 2021 guidance that fell short of analysts’ expectations, some analysts lowered their price target or seemed cautious on the software company’s shares.
Piper Sandler analyst Brent Bracelin cut his one-year price target to $240 from $242, while maintaining neutral rating. He sees fiscal 2022 as a “year of digestion” with little to no improvement in margins amid Salesforce integration of Slack.
Wedbush Securities' analyst Dan Ives held his $300 price target and outperform rating. But he noted dilution from the Slack deal and "this M&A poker move" impact on Salesforce's margin profile – still Ives thinks “this was the right move at the right time for CRM."
BMO analyst Keith Bachman also lowered his one-year price target to $280 from $285, on expectations that improvements in fiscal 2022 and bookings guidance might turn out to be conservative, given a better demand environment. He maintained his outperform rating.