Raymond James analyst Brian Peterson has reiterated their bullish stance on CRM stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Brian Peterson has given his Buy rating due to a combination of factors that highlight Salesforce’s strong growth potential and strategic positioning. After attending the Dreamforce conference, Peterson noted that Salesforce’s investor presentation effectively addressed major concerns from skeptics, particularly regarding AI and growth metrics. The company’s ambitious revenue target of $60 billion by FY30, driven by 10% organic growth, reflects its confidence in accelerating revenue growth through Data Cloud and AI adoption, as well as the benefits of standardizing on a single platform.
Furthermore, Peterson emphasized the significance of Salesforce’s partnerships and customer feedback, which suggest that large language models (LLMs) will complement app vendors by providing domain expertise and distribution. The introduction of Agentforce 360, with its advanced features like Script for improved accuracy and expanded low-code development, showcases Salesforce’s commitment to innovation. These developments, along with strategic collaborations with companies like Anthropic and OpenAI, position Salesforce to thrive in the evolving AI landscape, justifying the Buy rating.
In another report released today, Wolfe Research also maintained a Buy rating on the stock with a $310.00 price target.
Based on the recent corporate insider activity of 297 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRM in relation to earlier this year.