KeyBanc Sticks to Sector Weight on Salesforce Despite Impressive Q2 Results

KeyBanc has reaffirmed its Sector Weight rating on Salesforce stock after the company's impressive second-quarter fiscal 2027 results. The firm highlighted strong current remaining performance obligation growth and bookings that exceeded expectations.

The company maintained its guidance for acceleration in the second half of the year, which analysts say suggests the stock may be undervalued relative to its growth prospects. According to InvestingPro analysis, Salesforce appears undervalued based on its Fair Value assessment, placing it among opportunities on the platform's most undervalued stocks list.

KeyBanc pointed to the ClaudeForce partnership between Salesforce and Anthropic as a notable product development, which brings Salesforce more directly into the Claude environment. The integration has potential for capabilities from Claude Cowork to be replicated within Salesforce, described by KeyBanc as 'potentially powerful'. However, the firm noted that this is an early-stage development awaiting stronger organic growth metrics.

In related news, several analyst firms have adjusted their price targets and ratings following Salesforce's strong earnings performance. Monness, Crespi, Hardt raised its price target to $266 with a Buy rating, while Guggenheim increased its price target to $270 maintaining a Buy rating. Cantor Fitzgerald reaffirmed an Overweight rating and set a price target of $250.