As Salesforce (NYSE:CRM) gears up to launch its much-anticipated annual Dreamforce conference, analyst Brian White of investment firm Monness, Crespi, Hardt strikes a cautionary note. He suggests that the hype surrounding generative artificial intelligence (AI) might be more of a spectacle than a game-changer for the tech powerhouse in the immediate future.
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White portrays the fervent chatter as somewhat of an “AI fairytale,” underlining that the financial reverberations, at least for now, seem to be rather insignificant. Nevertheless, Salesforce won’t be sidestepping the AI narrative at the conference; attendees can anticipate AI being a hot topic in keynote discussions slated throughout the week.
Is CRM Stock a Good Buy Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CRM stock based on 23 Buys, 11 Holds, and one Sell assigned in the past three months, as indicated by the graphic above. Nevertheless, the average price target of $253.48 per share implies 12.48% upside potential.
