Salesforce price target lowered to $300 from $330 at Loop Capital

Loop Capital lowered the firm’s price target on Salesforce (CRM) to $300 from $330 and keeps a Hold rating on the shares. The company’s Q4 CRPO growth at about 11% y/y in constant currency was better than its guidance of 9.4%, but that growth rate benefited “significantly” from strong early renewals, the analyst tells investors in a research note. The stock is no longer about its current business but rather about the potential of Agentforce, and while the management disclosed that Agentforce and Data Cloud have surpassed $900M ARR, it expects Agentforce to not contribute meaningfully until FY27, Loop adds.