Salesforce.com got a price target hike from a JMP analyst.
Analyst Patrick Walravens boosted his price target on the cloud-based software company’s shares to $320 a share from $282.
Walravens increased his second-quarter revenue estimate to $6.24 billion from $6.23 billion, compared to FactSet consensus of $6.24 billion. The analyst also hiked his earnings expectation to 93 cents a share from 91 cents, vs. FactSet consensus of 92 cents a share. He boosted his full-year 2022 earnings estimate to $3.83 a share from $3.81, on revenue growth expectation of 22%. The FactSet consensus for full-year earnings is $3.84 and revenue of $26 billion.
Walravens mentioned that Salesforce.com's stock has rallied +11% year-to-date , compared to +14% for the Nasdaq.