Stifel Boosts Salesforce Price Target to $300 on AI Growth Prospects

Stifel has raised its price target for Salesforce.com to $300 from $275 while maintaining a Buy rating. The firm cited management's reiteration of its fiscal 2030 revenue target of $63 billion at the company's analyst day, where they expressed confidence that net new annual order value growth will continue to outpace annual order value growth.

Stifel identified six ways Salesforce plans to monetize its AI opportunity: more core licenses, premium SKU upgrades, Agentforce and out-of-the-box agent spend, Data 360, Agent Fabric and Guardian, and APIs, MCPs, context and infrastructure. The firm views these monetization paths as the most important driver to achieve the company's medium-term growth outlook.

Salesforce has been emphasizing its ability to help customers build custom applications, artifacts, and dashboards grounded in Salesforce data, metadata, and context. Stifel noted that these announcements can deliver materially more value to customers as CRM data and context becomes easier to leverage. Partner checks have also noted strong customer demand and steep adoption potential.