RBC Maintains $250 Salesforce Price Target Amid Dreamforce Event
RBC Capital has maintained its sector perform rating and $250 price target for Salesforce stock (NYSE:CRM) amid an upcoming event in San Francisco. The firm will attend Salesforce's Dreamforce and analyst day scheduled for September 15-17, where it expects expanded Agentforce capabilities and Claudeforce monetization to be emphasized.
The event will also feature a speech by Anthropic CEO Dario Amodei. RBC Capital anticipates discussion of confidence levels in revenue reacceleration and net new annual contract value trends, as well as an updated long-term financial framework. The firm noted that expectations may be elevated following a strong second-quarter beat and raise.
The $250 price target implies 14.2x the firm's calendar year 2027 free cash flow estimate, compared to 13.9x currently. Salesforce trades at $245.23, up 26% over the past six months.