Argus Boosts Salesforce Price Target to $300 as Analysts See Growth Ahead
Argus has raised its price target on Salesforce shares to $300 from $290 while maintaining a Buy rating. The firm cited Salesforce's decision to raise its full-year guidance for the second time, with management expecting revenue acceleration in fiscal second-half 2027.
Salesforce reported a 10% increase in non-GAAP operating income and an impressive gross profit margin of 77%. Additionally, it announced a new partnership with Anthropic. According to data from InvestingPro, 30 analysts have revised their earnings upwards for the upcoming period, reinforcing the bullish sentiment.
The company's stock trades at a P/E ratio of 24 with a PEG ratio of just 0.38, indicating attractive growth-adjusted valuation. Argus noted that the Anthropic partnership highlights Salesforce's importance placed on integration with an enterprise agentic AI leader.