Salesforce price target lowered to $250 from $280 at Piper Sandler

Piper Sandler lowered the firm’s price target on Salesforce (CRM) to $250 from $280 and keeps an Overweight rating on the shares. The firm notes Q4 results narrowly topped consensus, but the initial FY27 revenue growth guide for 10.5% year-over-year was slightly below consensus expectations for up 11.1%. With investors focused on the AI disruption debates, the guide alone is likely not changing minds. However, management reaffirmed Sep AD expectations that strong bookings and attrition improvements are driving NNAOV growth to outpace AOV growth, giving management confidence in a second half of 2027 organic revenue reacceleration, Piper adds.