Argus Lifts Salesforce Price Target to $300 Amid AI Growth Optimism

Investing.com's research arm, Argus, has revised its price target for Salesforce (NYSE:CRM) upwards to $300 from $290 while maintaining a Buy rating. This move follows the company's decision to increase its full-year guidance for the second time, anticipating revenue acceleration in fiscal 2027's second half.

Salesforce reported an 11% increase in revenue and a 10% boost in non-GAAP operating income during its first quarter of 2027. The company's gross profit margin stood at 77%, demonstrating impressive efficiency. Additionally, Salesforce announced a partnership with Anthropic, a prominent enterprise agentic AI leader.

The revised guidance reflects the growing importance of integration with AI technology for businesses, as highlighted by the new partnership. Argus also adjusted its fiscal 2027 non-GAAP earnings per share estimate to $16.68 from $14.41 and maintained its forecast for fiscal 2028 at $15.55.

The consensus among analysts is increasingly positive, with several firms raising their price targets following Salesforce's solid performance in the second quarter. This includes a target of $300 by Truist Securities, who cited AI-driven growth potential as a key factor.