Moody’s hikes Salesforce

Moody's Ratings said it upgraded Salesforce, Inc.'s senior unsecured ratings to A1, from A2.

"Salesforce's sharp pivot toward profitable growth and the significant restructuring actions undertaken have yielded substantial and rapid improvements in profitability over the last four quarters," said Raj Joshi, a Moody's senior vice president, in a press release.

The company's non-GAAP operating margin (as reported by the company) climbed by 800 basis points while revenue grew 11% in the fiscal year ended January 2024.

Moody’s noted Salesforce's robust financial profile and financial flexibility and its expectations that capital allocation between shareholders and acquisitions will be balanced such that the company will preserve low financial leverage and a healthy cash position relative to debt.

The outlook is stable.

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