Citizens Maintains Market Outperform on Salesforce Amid AI Growth Prospects

Citizens has reaffirmed its Market Outperform rating for Salesforce.com (CRM) stock and set a price target of $315.00, citing growth prospects in AI platform areas.

The firm highlighted several product segments that are currently underperforming, including Commerce, Marketing, Analytics (Tableau), and Integration (MuleSoft). However, Citizens remains optimistic about Salesforce's overall trajectory.

Salesforce's agentic momentum is building, with Agentforce and Data ARR reaching $3.9 billion, up 210% year-over-year. The company also addresses an estimated $628 billion agentic opportunity in fiscal year 2030, with incremental AI spend projected to reach $1.4 trillion by 2030.

The firm praised Salesforce's management team, led by CEO Marc Benioff, and noted the company's financial strength, reflected in its gross profit margin of 77.28% and revenue growth of 11.23%. Additionally, 34 analysts have revised their earnings estimates upwards for the upcoming period.