On the fly News and insights, exclusive to thefly.com

CRM

Salesforce

$277.93 /

+18.75 (+7.23%)

, MSFT

Microsoft

$299.54 /

+0.94 (+0.31%)

06:04
09/24/21
09/24
06:04
09/24/21
06:04

Salesforce upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Brent Bracelin upgraded Salesforce (CRM) to Overweight from Neutral with a price target of $365, up from $280. The analyst says in-person conversations with new leadership over the last two days give him confidence that Salesforce should see a "multi-year period of multiple and profit expansion tied to operating discipline and organic investments that can sustain growth." Despite the 7% rally after the fiscal 2023 guide up yesterday, Salesforce has an estimated 2023 enterprise value to sales ratio of 7.5 times versus Microsoft (MSFT) at 9.3 times and Adobe (ADBE) at 14 times, in part because it has emphasized growth over margins for the past decade, says the analyst. Bracelin believes the company's new team, new model, and new post-Covid reality point to a "structural change" that could result in a material boost to profits as it scales revenue to $50B-plus.

CRM

Salesforce

$277.93 /

+18.75 (+7.23%)

MSFT

Microsoft

$299.54 /

+0.94 (+0.31%)

ADBE

Adobe

$630.35 /

+4.7 (+0.75%)

  • 30

    Nov

CRM Salesforce
$277.93 /

+18.75 (+7.23%)

09/24/21 Oppenheimer
Salesforce price target raised to $310 from $290 at Oppenheimer
09/23/21 Stifel
Salesforce guidance should be well-received, says Stifel
09/20/21
Fly Intel: Top five analyst initiations
09/20/21 Wells Fargo
Salesforce initiated with an Overweight at Wells Fargo
MSFT Microsoft
$299.54 /

+0.94 (+0.31%)

09/17/21 Tigress Financial
Microsoft price target raised to $366 from $303 at Tigress Financial
09/17/21 Barclays
Microsoft price target raised to $345 from $330 at Barclays
09/14/21 Morgan Stanley
Microsoft price target raised to $331 from $305 at Morgan Stanley
09/08/21 Jefferies
Microsoft price target raised to $345 from $335 at Jefferies
ADBE Adobe
$630.35 /

+4.7 (+0.75%)

09/22/21 Oppenheimer
Adobe price target raised to $680 from $600 at Oppenheimer
09/22/21 JPMorgan
Adobe price target raised to $680 from $660 at JPMorgan
09/22/21 Stifel
Adobe price target raised to $750 from $725 at Stifel
09/22/21 BMO Capital
Adobe price target lowered to $720 from $730 at BMO Capital

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.