Analyst Derrick Wood from TD Cowen maintained a Buy rating on Salesforce and keeping the price target at $325.00.
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Derrick Wood has given his Buy rating due to a combination of factors that suggest Salesforce is fundamentally well positioned despite some mixed signals. His checks point to a solid ramp in Agentforce and continued strength in Data Cloud, supporting a view that artificial intelligence offerings are gaining meaningful traction and should drive attractive AI-related annual recurring revenue in the near term.
At the same time, he expects organic subscription revenue growth to remain steady rather than re-accelerate sharply, which tempers the magnitude of the upside narrative but not the overall investment case. With the stock trading at what he views as a reasonable multiple of projected free cash flow and partner feedback indicating gradually improving deal activity and pipeline metrics, he believes the risk/reward skew remains favorable, justifying a constructive Buy stance on CRM.
In another report released yesterday, TipRanks – OpenAI also reiterated a Buy rating on the stock with a $216.00 price target.