Salesforce price target raised to $415 from $385 at Oppenheimer

Oppenheimer raised the firm’s price target on Salesforce (CRM) to $415 from $385 and keeps an Outperform rating on the shares. The firm notes Salesforce’s Q3 results exceeded expectations and were anchored by a reacceleration in CRPO growth alongside higher FY25 margin and cash-flow growth targets. Q3 shows another quarter of double-digit CRPO billings growth, and this positive trend looks durable given our view for more normal software spending trends ahead as the macro uncertainties ease alongside the rising importance of IT and AI in driving growth and efficiencies with the enterprise, Oppenheimer adds.