Truist Raises Salesforce Price Target to $300 on AI Growth

Truist Securities has raised its price target for Salesforce (NYSE:) to $300 from $280, while maintaining a Buy rating. The firm believes that the company's second-quarter results were an important proof-point quarter for Salesforce, with the pieces needed to drive sustainable organic growth beginning to come together.

The analyst noted that NNAOV growth reached its strongest level in four years, supporting the company's confidence in accelerating organic growth through the second half. Additionally, Agentforce continued its momentum with ARR reaching approximately $1.5 billion, with production customers growing approximately 70% quarter-over-quarter.

Truist also highlighted the Claudeforce partnership, which strengthens the AI story and positions Salesforce as a critical data, context, and action layer for third-party agents. The firm stated that core demand is improving and AI monetization is scaling, with an incrementally positive outlook on growth.