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Investing.com - Canaccord Genuity maintained its Buy rating and $300 price target on Salesforce.com (NYSE:CRM) in a research note released Thursday. The stock, currently trading at $236.58 with a market capitalization of $225 billion, is trading below InvestingPro’s calculated Fair Value, suggesting potential upside opportunity.
The firm cited Salesforce’s "reimagined platform for the Agentic Enterprise" as a key factor in its positive outlook, highlighting improvements across data, agentic, and application layers. Canaccord also pointed to Salesforce’s acceleration in sales capacity and expanded commercial licensing options. The company’s impressive 77.65% gross profit margin and 8.33% revenue growth demonstrate its operational efficiency.
Canaccord noted that management believes customers who transition to the "Agentic Enterprise" model could increase their annual recurring revenue (ARR) spend by three to four times, demonstrating the potential multiplier effect of the company’s "Agentforce" vision.
The research firm acknowledged that while management projects improved revenue growth, tangible results may take approximately a year to materialize. Canaccord expects leading indicators of this improvement to appear even sooner.
Despite implementation uncertainties, Canaccord views Salesforce as a "relatively low-risk bet in large-cap software" at current valuation levels, particularly as margins continue to improve, acquisitions contribute to growth, and the company continues its stock buyback program. InvestingPro analysis reveals a perfect Piotroski Score of 9, indicating strong financial health. Discover 8 more exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
In other recent news, Salesforce has been the focus of multiple analyst updates following its Dreamforce conference and Analyst Day. Analysts are optimistic about the company’s future, with BofA Securities maintaining a Buy rating and a $325 price target, highlighting Salesforce’s goal of over 10% compound annual growth rate (CAGR) through fiscal year 2030. Wolfe Research also reiterated an Outperform rating with a $310 target, noting Salesforce’s potential to reach $60 billion in revenue by 2030. Needham emphasized Salesforce’s AI investments, maintaining a Buy rating with a $400 price target, as large language model vendors have significantly increased their investment in Salesforce applications.
Stifel also maintained its Buy rating and a $300 price target, introducing new features like Agentforce 360 to enhance Salesforce’s capabilities. Raymond James reiterated a Strong Buy rating with a $375 price target, praising Salesforce’s ability to address key concerns regarding AI and growth metrics. These recent developments reflect a strong confidence in Salesforce’s strategic direction and growth prospects among major analyst firms.
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