Evercore ISI Reaffirms Outperform Rating on Salesforce After Dreamforce Conference

Evercore ISI has reaffirmed its Outperform rating on Salesforce stock following the Dreamforce conference in San Francisco. The firm reiterated a price target of $290 for the company, which currently trades at $255.65 with a market cap of $210.4 billion.

Salesforce's positioning around enterprise software value is shifting towards data, business logic, workflows, permissions, and governance rather than just the interface itself. The AIforce platform allows customers to access Salesforce context and actions through various interfaces such as Claude, Slack, Lightning, or other AI-native interfaces.

The company has seen a series of developments that have caught investors' attention, including Cantor Fitzgerald raising its price target for Salesforce to $300 from $250. Mizuho also increased its price target to $280 from $265 after attending the Dreamforce conference, where Salesforce highlighted new data interfaces within its platform.