Citizens Reiterates 'Market Outperform' Rating on Salesforce Ahead of Earnings

Citizens Financial has reaffirmed its 'Market Outperform' rating and $315 price target on Salesforce ahead of the company's second-quarter fiscal 2027 earnings report, scheduled for August 26. The firm conducted industry checks that showed improvement in the second quarter of fiscal 2027 compared to the first quarter.

The percentage of positive checks rose to 50% from 22%, indicating a stronger market sentiment towards Salesforce. In contrast, the stock has fallen 18% year-to-date, underperforming both the S&P 500 and the Russell 3000, which have gained around 12%. However, over the last 30 days, Salesforce shares have rallied by 28%, outpacing the S&P 500 and the Russell 3000's gains of 3%.

Citizens Financial is not alone in its bullish stance on Salesforce. Other firms, including Needham, Cantor Fitzgerald, and Oppenheimer, have also reaffirmed their positive ratings on the company. Needham maintains a $270 price target, while Cantor Fitzgerald has an Overweight rating with a $250 price target. Oppenheimer suggests a favorable earnings setup for the upcoming second-quarter results.