Salesforce Inc (NYSE: CRM) shares are trading higher Thursday following the company's 2022 Dreamforce conference, in which it reiterated expectations of achieving $50 billion in revenue in 2026.
Salesforce also laid out plans to operate more efficiently and achieve higher levels of profitability. The company is targeting 25% adjusted operating margins, which is up from previous guidance. Operating margins reached 19.9% in the company's most recent quarter.
Salesforce also noted that it aims to lower marketing spend as a percentage of revenue below 35% by 2026. The company plans to focus on strengthening partnerships and improving productivity to achieve such.
The $50 billion revenue target for 2026 was originally announced last year, but the reiterated target now includes an anticipated $2 billion headwind from exchange rates.
Salesforce provides enterprise cloud computing solutions with a focus on customer relationship management technology.
CRM Price Action: Salesforce has a 52-week high of $256.87 and a 52-week low of $147.51.
The stock was up 2.95% at $151.99 Thursday morning.
Photo: courtesy of Salesforce.
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