Salesforce price target raised to $404 from $393 at Morgan Stanley

Morgan Stanley analyst Keith Weiss raised the firm’s price target on Salesforce (CRM) to $404 from $393 and keeps an Overweight rating on the shares. Q1 cRPO growth of 11.4% in constant currency exceeded guidance by about 100 basis points, towards the higher end of buyside expectations, and the reiteration of FY26 targets proved “better than feared against macro volatility and rising concerns post M&A,” the analyst tells investors in a post-earnings note. The firm adds that increasing evidence of Data Cloud and Agentforce momentum builds confidence in Salesforce’s positioning for AI.