Shares in enterprise software maker Salesforce rose Thursday amid an upgrade from Baird, which expects upside for CRM stock from price increases.
Baird analyst Rob Oliver upgraded Salesforce stock to outperform from neutral.
"With current valuation near historical lows, top-line growth and expectations muted, we see upside from current levels," he said in a report. "Price increases, the potential return of front office spend and crisper sales execution should drive upside."
On the stock market today, CRM stock rose 2% to 269.45 in midday trading. As of Wednesday's market close, Salesforce stock was up a fraction in 2024.
Salesforce stock gained nearly 98% in 2023. That beat the Nasdaq index's 43% gain.
CRM Stock: Technical Ratings
Salesforce sells software under a subscription model. Its software helps businesses organize and handle sales operations and customer relationships. The company has expanded into marketing, e-commerce and data analytics.
According to IBD Stock Checkup, CRM stock currently has a Relative Strength Rating of 93 out of a best-possible 99. The best stocks tend to have ratings of 80 and above.
In addition, CRM stock has an Accumulation/Distribution Rating of A. The rating, on an A+ to E scale, measures institutional buying and selling in a stock.
Follow Reinhardt Krause on X, formerly called Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
