American cloud-based software company Salesforce (CRM) recently announced that it will offer live and on-demand content for every role, industry and line of business through Salesforce+, an all-new streaming service. Following the news, shares of the company declined 2.4% and closed at $243.36 on Tuesday.
In its press release, the company stated that its offerings on Salesforce+ will include live experiences, original series and podcasts. In the coming months, the company is planning to add more original content, which will feature noteworthy people from the fields of sales and service, including inspirational individuals from marginalized communities.
The Chief Marketing Officer of Salesforce, Sarah Franklin, said, “We’re not going back, we’re creating the future now. Just as brands like Disney, Netflix and Peloton have done with streaming services for consumers, Salesforce+ is providing an always-on, business media platform that builds trusted relationships with customers and a sense of belonging for the business community.” (See Salesforce stock chart on TipRanks)
Recently, Stifel Nicolaus analyst Parker Lane initiated a Buy rating on the stock with a price target of $295. The analyst’s price target implies upside potential of 21.2% from current levels.
The analyst said, “Building on the widespread adoption of its CRM solution across nearly all industries, Salesforce has positioned itself as the leading software player in all areas of the customer experience journey (Sales, Marketing, Service, E-Commerce, Integration, Analytics, and Collaboration). On the path to $50bn in FY26 total revenue, we believe components of the business like Field Service Lightning, MuleSoft, Tableau, and Slack will play a much larger role in the company’s growth story, with Salesforce’s strategic account relationships and powerful go-to-market engine fueling up/cross-sell activity. Additionally, under the leadership of new CFO Amy Weaver, we anticipate Salesforce will be committed to delivering margin improvement in the context of its top line trajectory.”
Consensus among analysts is a Strong Buy based on 22 Buys and 5 Holds. The average Salesforce price target of $279.23 implies upside potential of 14.7% from current levels. Shares have gained 26.8% over the past year.