CRM
Salesforce in focus as Citi sees positive demand signals (CRM)
John M. Chase
- Salesforce (NYSE:CRM) was in focus on Thursday as Citi said a recent event held by the company announcing the general availability of its Einstein Copilot showed positive demand signals.
- Shares rose 0.7% in premarket trading.
- Partner commentary highlighted “strengthening demand” since the start of the year as deal activity has increased as has deal size, analyst Tyler Radke said. Radke has a Neutral rating on Salesforce.
- Additional commentary showed that partners have shown more willingness to spend on artificial intelligence projects, though not specifically on Salesforce, Radke said. Salesforce’s Data Cloud is being underutilized asset as customers are not happy with the bundling and packaging aspects, Radke added.
- Analysts are largely bullish on Salesforce (CRM). It has a BUY rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. Conversely, Seeking Alpha’s quant system, which consistently beats the market, rates CRM a HOLD.
