Canaccord raises Salesforce target to USD 300 amid strong AI growth
Salesforce (ISIN US79466L3024) saw its stock rise slightly on October 5, 2026, trading at EUR 209.73 on Lang & Schwarz, a 0.66% increase from the previous close. This uptick follows a bullish outlook from Canaccord, which set a new USD 300 target for Salesforce stock after six firms raised their targets following the company's investor event.
The company's AI-driven segment, Agentforce, reported significant growth, with annual recurring revenue reaching USD 1.50 billion in the second quarter of fiscal 2027, a 240% year-over-year increase. Combined with Data 360, the segment's revenue approached USD 3.90 billion, marking a 210% rise over the same period. Overall, Salesforce's second-quarter revenue was USD 11.35 billion, up 11% year-over-year, while subscription and support revenue increased by 12% to USD 10.80 billion.
During its September 16, 2026 Investor Day, Salesforce projected FY2027 revenue between USD 46.10 billion and USD 46.40 billion, with a non-GAAP operating margin of 34.30%. The company also announced a proposed USD 25.00 billion accelerated share repurchase, aiming to reduce its share count by at least 14%. As of October 2, 2026, Salesforce's market capitalization stood at USD 192.2 billion, with a 52-week range of USD 146.32 to USD 269.11.
The next earnings report is scheduled for December 8, 2026, which will provide further insight into whether Agentforce's rapid growth can significantly impact Salesforce's overall revenue outlook.