Stifel Sticks to Buy on Salesforce After Dreamforce

Stifel has reaffirmed its Buy rating for Salesforce (CRM) after the company's annual Dreamforce conference. The firm reiterated a price target of $275, citing the software giant's strong revenue growth and undervalued status.

The conference saw announcements from Salesforce on platform enhancements, including AIforce, a headless layer, and Koa, its first CRM reasoning model built on NVIDIA Nemotron 3.

Market sentiment remains strong, with 34 analysts revising their earnings estimates upward in recent weeks. Stifel noted that the company's attractive PEG ratio of 0.39 suggests it's trading at a low P/E relative to near-term earnings growth.