Salesforce Stock on Track for Third Week of Gains as Wall Street Turns Bullish
Salesforce stock has been on a winning streak for three weeks in a row, and Wall Street analysts are optimistic about its future. JPMorgan analyst Samik Chatterjee recently resumed coverage of Salesforce with an 'Overweight' rating and a $250 price target, implying an upside of more than 24%.
The analyst believes that the company's core business will accelerate in the second half of fiscal 2027, but notes that concerns about disruption to its position from frontier AI models and competitive dynamics are limited to a small portion of the business. Salesforce shares have been trading at inexpensive levels, making them an attractive investment opportunity.
Other analysts agree with Chatterjee's assessment. UBS raised its price target on Salesforce to $210 from $185 earlier this week and kept a 'Neutral' rating on the shares. The 12-month average price target for CRM stock is $242.43, implying an upside of more than 20% from current levels.
The news has also been fueled by reports that Silver Lake is in preliminary talks to acquire Workday Inc., which could be one of the largest private equity-led technology buyouts ever. This has sent software stocks higher across the board, with CRM shares gaining as a result.