Salesforce.com Inc. CRM, +1.97% shares rallied to an all-time high Wednesday and were on track for their highest close ever following a round of price target hikes from analysts. Shares of Salesforce hit an intraday high of $145.64, and were last up 2.2% at $145.57, which would be a new closing record for the stock. Shares have been on a tear lately and are on track for their fifth up session in a row for a total streak gain of 5.3%. On Tuesday, Oppenheimer analyst Brian Schwartz hiked his price target on Salesforce to $160 from $152, adding to a series of July price target hikes. In July, four other analysts have raised their price targets on the stock. Of the 43 analysts who cover Salesforce, 38 have overweight or buy ratings and five have hold ratings, with an average target price of $150.69, according to FactSet. Salesforce shares are up 42% for the year, compared with a 3.8% gain in the S&P 500 index SPX, -0.71% and an 11.9% gain in the Nasdaq Composite Index COMP, -0.55%
Salesforce stock hits records after analyst price target hikes
Bookmark the permalink.