Oppenheimer Reaffirms Outperform Rating on Salesforce with $275 Price Target
Oppenheimer has reaffirmed its Outperform rating on Salesforce stock (CRM) with a $275.00 price target following the company's annual Dreamforce customer survey.
The firm conducts interviews with Salesforce customers at the conference since 2012 to assess business conditions, demand, and trends affecting the company's fundamentals over the next 12 to 18 months.
The survey found that IT budgets appear healthy and 85% of surveyed customers have tested or deployed Agentforce. However, nearly half of those customers remain in the pilot or testing stage, leaving the pace of production adoption and monetization uncertain.
Oppenheimer noted a shift in AI investments, highlighting that companies are now focusing on measurable returns on investment rather than just adoption metrics. This change indicates that AI is becoming a regular operating expense with an emphasis on sustainable growth and attractive returns.