Bernstein Remains a Hold on Salesforce (CRM)

In a report released today, Mark Moerdler from Bernstein maintained a Hold rating on Salesforce (CRMResearch Report), with a price target of $234.00. The company’s shares closed last Tuesday at $239.20.

According to, Moerdler is a 5-star analyst with an average return of 15.0% and a 76.1% success rate. Moerdler covers the Technology sector, focusing on stocks such as Microsoft, Oracle, and Adobe.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Salesforce with a $293.43 average price target, which is a 19.8% upside from current levels. In a report issued on November 27, Needham also assigned a Hold rating to the stock.

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Based on Salesforce’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $5.15 billion and net profit of $2.63 billion. In comparison, last year the company earned revenue of $4 billion and had a net profit of $91 million.

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