Cantor Fitzgerald Analyst Raises Salesforce Target Price to $300

A Cantor Fitzgerald analyst has increased Salesforce's (NYSE:CRM) target price to $300, suggesting a potential upside of 16.28% from its current price. This move follows other analysts who have also raised their price targets for the CRM provider.

Salesforce has seen several upgrades in recent months, with Royal Bank Of Canada lifting its target to $250 and CLSA starting coverage with a 'hold' rating. However, not all analysts are bullish on the stock, with HC Wainwright lowering its rating to 'negative'. Despite this mixed sentiment, Salesforce's overall average rating remains at 'Moderate Buy', with 27 analysts recommending a 'buy' rating.

The company has reported strong quarterly earnings, beating analyst estimates and showing revenue growth of 10.8% year-over-year. Its FY 2027 guidance has also been raised, with EPS expected to be between $16.67 and $16.71. Institutional investors have been increasing their stakes in the company, with California State Teachers Retirement System purchasing over 186 million shares.

Despite this positive news, some analysts are cautioning that Salesforce's stock may be overbought, with a relative strength index above 80 indicating potential profit-taking. The company is also scheduled to hold investor events, which could provide further insights into its future plans and guidance.