Stifel Reaffirms 'Buy' Rating on Salesforce as Revenue Growth Accelerates

Stifel reaffirmed its 'Buy' rating on Salesforce.com (CRM) shares, maintaining a $275 price target.

The firm credits the company's revenue acceleration story for driving investor enthusiasm. Quarterly results showed net new annualized contract value (NNAOV) growth reaching a four-year high, supporting subscription and support acceleration in the second half of the fiscal year.

Salesforce reported an 11.23% revenue increase over the past twelve months, with a gross profit margin of 77.28%. The stock has gained 25.81% over the past six months, reflecting this positive momentum.

Stifel views expectations for Salesforce's upcoming Dreamforce conference and Analyst Day as elevated, with investors underwriting double-digit fiscal 2028 growth and a Rule of 50 path by fiscal 2030.