Salesforce (CRM) continues to draw bullish sentiment from Wall Street analysts, who see strong product momentum and efforts to expand market reach to drive long-term growth. In the past week, five analysts have rated CRM stock a Buy, projecting upside in the range of 20% to 46% in the next 12 months.
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This follows Salesforce’s busy week, working to improve its AI tools. Last week, Salesforce introduced new flexible pricing for Agentforce to speed up AI-driven digital labor adoption. Further, it agreed to acquire Convergence.ai to boost its enterprise AI solutions and improve automation.
Here’s what some analysts are saying about Salesforce’s outlook.
TD Cowen Bullish on Product Strength and Hiring Trends
Five-star analyst, Derrick Wood from TD Cowen, maintained a Buy rating on CRM stock with a $375 price target. The bullish rating is backed by a strong demand for data solutions and early success with Agentforce, Salesforce’s AI automation tool.
Despite some softness in the commercial sector, Wood said Mulesoft and Tableau, key technologies within CRM’s ecosystem, are improving. Further, sales hiring is at its highest in 3.5 years, signaling growth.
Also, Wood pointed to attractive financial metrics, such as the enterprise value to free cash flow ratio, supporting his bullish stance on AMD stock.
Bank of America Sees Stability in Core Segments
Bradley Sills from BofA Securities reiterated his Buy rating with a price target of $350, citing stable Sales Cloud performance, strong Revenue Cloud, and growing Data Cloud adoption.
Further, Sills noted Agentforce is gaining traction, especially in finance and healthcare, despite weakness in retail and manufacturing. He believes CRM will benefit from its steady margin expansion and a growing market reach. Also, he expects Salesforce to achieve a consistent mid-teens growth rate.
Is CRM a Buy, Hold, or Sell?
Turning to Wall Street, CRM stock has a Moderate Buy consensus rating based on 32 Buys, eight Holds, and three Sells assigned in the last three months. At $358.21, the average Salesforce stock price target implies a 23.03% upside potential.
