RBC Reaffirms $250 Price Target for Salesforce Amid Optimistic Outlook
RBC Capital has reaffirmed its Sector Perform rating and $250 price target for Salesforce stock. The firm plans to attend Salesforce's Dreamforce and analyst day in San Francisco from September 15-17, where they expect expanded Agentforce capabilities and Claudeforce monetization and use cases to be emphasized.
RBC Capital anticipates discussion of confidence levels regarding revenue reacceleration and net new annual contract value trends. Additionally, an updated long-term financial framework is expected to be presented.
Salesforce currently trades at $245.23, up 26% over the past six months. The stock appears undervalued according to InvestingPro analysis, with a 'GREAT' financial health score of 3.1 out of 5 and an attractive PEG ratio of 0.37.
Recent developments have influenced Salesforce's stock outlook positively, including raised full-year guidance and partnerships such as the one with Anthropic. As a result, other firms like Argus, TD Cowen, and Cantor Fitzgerald have increased their price targets to $300.