RBC Reaffirms Sector Perform Rating on Salesforce with $250 Target
RBC Capital Markets has reaffirmed its Sector Perform rating on Salesforce.com stock (), citing the company's undervalued position in the market. The firm set a price target of $250, which is slightly above the current trading price of $243.36.
The assessment follows Salesforce's annual Dreamforce conference and Investor Session in San Francisco, where management left its fiscal 2030 targets unchanged. Partner checks showed incrementally positive demand but mixed results on pricing.
RBC Capital highlighted AI Force as a strategic shift towards becoming the enterprise context layer, while noting continued traction for Agentforce.
The analyst firm's views are in line with broader market sentiment, as 34 analysts have revised their earnings upwards for the upcoming period. This optimism is reflected in recent updates from other analysts, including Stifel, Cantor Fitzgerald, DA Davidson, Guggenheim, and Oppenheimer, who have all increased their price targets on Salesforce.
The stock's P/E ratio of 23.24 and attractive PEG ratio of 0.38 suggest that the company is undervalued according to InvestingPro Fair Value analysis. This suggests that investors may see opportunities in the stock despite some mixed results from partner checks.