In a report released today, Derrick Wood from TD Cowen maintained a Buy rating on Salesforce, with a price target of $250.00.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Derrick Wood has given his Buy rating due to a combination of factors tied to Salesforce’s emerging AI strategy around Slack and Slackbot. He views Slack as evolving into the primary interface where employees initiate and manage AI-powered work, with Slackbot acting as a unified, conversational layer that coordinates both Salesforce-native and third-party AI agents across data, workflow, and context.
He also highlights the depth of Salesforce’s AI partner ecosystem and data moat, noting strong integrations with leading AI platforms and robust early traction in AI usage on Slack. In his view, the rapid growth in AI users, the expanding feature set, and Slack’s role as a cross-functional orchestration hub position Salesforce to capture substantial incremental AI-driven adoption and monetization, supporting a constructive outlook on the stock.
Wood covers the Technology sector, focusing on stocks such as Salesforce, SAP AG, and Workday. According to TipRanks, Wood has an average return of 0.0% and a 42.94% success rate on recommended stocks.
In another report released on March 30, Stifel Nicolaus also maintained a Buy rating on the stock with a $250.00 price target.