RBC Capital Sticks to $250 Target for Salesforce Amid Dreamforce Frenzy
RBC Capital has reaffirmed its Sector Perform rating and price target of $250 for Salesforce stock. The firm will attend Salesforce's Dreamforce and analyst day on September 15-17 in San Francisco, where it expects discussions on expanded Agentforce capabilities and Claudeforce monetization.
RBC Capital anticipates an updated long-term financial framework to be presented at the event, following a strong second-quarter beat and raise by Salesforce. The company's attractive PEG ratio of 0.37 suggests that the stock is trading at a low price relative to its near-term earnings growth potential.
Salesforce currently trades at $245.23, up 26% over the past six months. InvestingPro analysis indicates that the stock appears undervalued at current levels, with the company earning a 'GREAT' financial health score of 3.1 out of 5.