Salesforce Stock Price Target Rises Amid Strong Fiscal Results
Salesforce's stock price target has been raised to $266 by Monness, Crespi, Hardt following its impressive second-quarter fiscal 2027 results. The company exceeded expectations and issued guidance for the third quarter of fiscal 2027, raising its full-year outlook by $100 million organically.
The firm attributed Salesforce's success in exceeding most metrics to its strong cloud portfolio and new innovations. As a result, Monness, Crespi, Hardt increased its fiscal 2027 estimates for the company.
Salesforce has also partnered with Anthropic to develop Claudeforce, a technology that leverages generative AI. The firm stated that it is well-positioned to participate in this emerging field due to its strong cloud portfolio and new innovations.
Several analysts have reaffirmed their positive views on Salesforce following the company's second-quarter results. Cantor Fitzgerald maintained an Overweight rating with a $250 price target, while Guggenheim increased its target to $270 and Oppenheimer raised its target to $275.