The results give CEO Marc Benioff a reprieve from activist investor firms such as Third Point and Elliott Management.
Salesforce 's strong earnings were impressive, as it works toward improving profitability in the midst of ongoing activist pressure at the firm, according to Wall Street analysts. The cloud stock surged 15% in premarket trading Thursday after Salesforce beat profit and sales expectations . The company also issued a better forecast than Wall Street was expecting.
" stock. is short for growth at a reasonable price, a strategy that bridges attributes from value and growth investing. His $235 price objective, raised from $200, means shares can surge 40% from Wednesday's close. "While the Mulesoft acceleration is impressive, we are also encouraged by the core Sales and Service cloud growth holding in the mid teens level on a cc basis, suggesting continued strength and pull through from more strategic industry cloud and CDP deals," Sills wrote.
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