Argus Boosts Salesforce Price Target to $300 Amid Strong Earnings

Financial services firm Argus has raised its price target for Salesforce.com shares to $300 from $290, citing the company's decision to increase its full-year guidance for the second time. This growth is expected in the fiscal second-half of 2027. In a recent earnings report, Salesforce showed a solid performance with a 10% increase in non-GAAP operating income and an 11% revenue growth in the fiscal first-quarter of 2027.

The company's gross profit margin was impressive at 77%, according to its latest financials. Additionally, Salesforce announced a new partnership with Anthropic, highlighting the importance it places on integrating with enterprise agentic AI leaders. This move suggests that Salesforce is committed to leveraging AI advancements for sustainable growth.

Several analysts have adjusted their price targets following Salesforce's earnings report. Truist Securities raised its target to $300, citing potential for sustainable organic growth driven by AI advancements, while TD Cowen increased its target to $280, maintaining a positive outlook on the company's future growth prospects. Monness, Crespi, Hardt boosted its target to $266 after Salesforce's earnings exceeded expectations.