Argus Boosts Salesforce Price Target to $300 Amid Revenue Acceleration Expectations

Analysts at Argus have increased their price target for Salesforce.com shares to $300 from $290 while maintaining a Buy rating. This decision was influenced by Salesforce's second full-year guidance increase, with management expecting revenue acceleration in fiscal second-half 2027.

Salesforce reported an impressive 11% revenue growth and a 10% increase in non-GAAP operating income for the first quarter of 2027, along with a gross profit margin of 77%. The company also announced a new partnership with Anthropic, which Argus sees as a significant move towards integrating AI technology.

Thirty analysts have revised their earnings estimates upwards for the upcoming period, according to InvestingPro data. The stock's P/E ratio stands at 24 and its PEG ratio is just 0.38, indicating attractive growth-adjusted valuation. InvestingPro analysis suggests that Salesforce shares are undervalued.