Stock Track | Salesforce Soars 5% on Analyst Optimism and M&A Speculation

Stock Track01:31

Shares of Salesforce.com (CRM) surged 5.03% on Thursday, driven by positive analyst commentary and speculation that the software giant could acquire marketing technology firm Braze (BRZE).

Multiple Wall Street analysts raised their price targets on Salesforce ahead of the company's upcoming earnings report on December 3. Oppenheimer lifted its target to $385 from $330, while TD Cowen increased its target to $340 from $290. Goldman Sachs also reiterated its Buy rating on the stock.

Additionally, a report from The Information suggested that Salesforce could be a potential suitor for Braze, a marketing software company whose shares have fallen around 30% this year. The speculation fueled a 6% rise in Braze's stock price on Thursday. Salesforce's strong performance was also a major contributor to the Dow Jones Industrial Average's 250-point rally on the day.

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