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Canaccord Genuity Reiterates Buy Rating on Salesforce with $350 Price Target
ByAinvest
Tuesday, May 27, 2025 6:34 pm ET1min read
Canaccord Genuity analyst David Hynes maintains a Buy rating on Salesforce with a $350 price target. The company's shares opened at $273.17. Hynes has a 46.89% success rate and covers the Technology sector. Salesforce reported a quarterly revenue of $9.99 billion and net profit of $1.71 billion. Insider sentiment is negative, with 233 insiders selling shares over the past quarter.
In a recent report, Canaccord Genuity analyst David Hynes has maintained a Buy rating on Salesforce (NYSE: CRM) with a price target of $350. The company's shares opened at $273.17 on May 28, 2025. Hynes, who covers the Technology sector, has a 46.89% success rate, according to his profile on the brokerage's website.Salesforce reported a quarterly revenue of $9.99 billion and a net profit of $1.71 billion in its latest earnings report. Despite these figures, insider sentiment remains negative, with 233 insiders selling shares over the past quarter. This selling activity has raised concerns among investors about the company's future prospects.
Hynes' analysis suggests that Salesforce's shares are undervalued, given the company's strong financial performance and the potential for growth in the sales software segment. He believes that the company's recent miss in revenue expectations was a one-off event, and that the stock is poised for a rebound.
However, the outlook for Salesforce is not without risks. The company has missed Wall Street's revenue estimates twice in the past two years, and its peers in the sales software segment have shown mixed results. Freshworks, for example, reported year-on-year revenue growth of 18.9% in its latest quarter, while HubSpot saw revenues increase by 15.7%. Salesforce's peers have also shown positive sentiment among investors, with share prices up 7.3% on average over the last month.
Despite these risks, Hynes remains bullish on Salesforce, citing the company's strong brand, customer base, and the potential for growth in the sales software segment. He believes that the company's recent setbacks are temporary, and that the stock is poised for a rebound.
References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3RT0RN:0-kenvue-s-not-so-smooth-sailing-course-could-change-canaccord-genuity-says/
[2] https://finance.yahoo.com/news/salesforce-crm-q1-earnings-expect-070205676.html
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