Citizens Sticks with Market Outperform Rating on Salesforce Ahead of Earnings

Citizens maintained its Market Outperform rating and $315 price target for 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, with 50% of checks positive compared to 22% in the first quarter of fiscal 2027.

Salesforce shares have fallen 18% year-to-date, compared to approximately 12% gains for both the S&P 500 and the Russell 3000. However, the stock has rallied 28% over the last 30 days versus 3% for the S&P 500 and the Russell 3000.

Cantor Fitzgerald reiterated an Overweight rating with a $250 price target, emphasizing Salesforce's potential in AI, while Oppenheimer maintained an Outperform rating on Salesforce, suggesting a favorable earnings setup for the upcoming second-quarter results.