Salesforce (CRM) is drawing optimism from Wall Street following its new long-term outlook, including an organic revenue target of $60 billion by FY30. Canaccord Genuity analyst David Hynes reaffirmed a Buy rating with a $300 price target on the cloud software giant. “CRM is a relatively low-risk bet in large-cap software,” the analyst said, pointing to the company’s strong fundamentals and long-term strategy.
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Here’s Why the Analyst Is Bullish
Hynes is bullish about the company’s strategy to become a key provider of Agentic Enterprise solutions, which combine data, AI agents, and applications.
According to management, a typical customer using around three mid-tier cloud products could triple or even quadruple their annual recurring revenue (ARR) spend by upgrading to an Agentic Enterprise model. This points to the growth potential of Salesforce’s Agentforce strategy.
Also, Salesforce is expanding its sales capacity to meet rising demand, while offering more flexible licensing options. The analyst believes these changes would fuel a “consumption flywheel,” where increased usage leads to more use cases and more revenue.
Valuation Still Attractive
Despite recent gains, Hynes believes Salesforce stock remains undervalued, especially compared to other large-cap software names.
Further, he expects tangible growth improvements within a year, with early signs possibly appearing even sooner. Salesforce’s ongoing stock buybacks also support the bullish case.
Is CRM a Buy, Sell, or Hold?
Turning to Wall Street, CRM stock has a Moderate Buy consensus rating based on 30 Buys, nine Holds, and one Sell assigned in the last three months. At $326.57, the average Salesforce stock price target implies a 31.91% upside potential.
