Rating BUY (as at 31 May 2021)
Last Close USD 238.10
Fair Value USD 295.00

The force is strong with this one
• Clean 1QFY22 beat with strong non-GAAP OPM; raising guidance for FY22
• Evidence of Salesforce’s ability to pull along new but strategic assets in their selling model
• Valuations remain attractive, while fair value reflects Salesforce’s favourable positioning on key ESG issues relative to peers