Salesforce Stock Jumps as Analyst Boosts Price Target

Salesforce stock rose by up to 4.4% on Tuesday, despite concerns about its relevance in an AI-driven future.

The company has been hurt by fears that autonomous agents could make software stocks obsolete, but analysts remain optimistic.

Citi analyst Tyler Radke maintained a neutral rating on the stock and increased his price target to $204, representing 7% upside from Monday's closing price.

Salesforce's forecast for revenue of $11.31 billion and adjusted earnings per share of $3.26 in the second quarter is in line with Wall Street's consensus estimates.