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Investing.com - Oppenheimer has raised its price target on Salesforce (NYSE:CRM) to $370.00 from $315.00 while maintaining an Outperform rating ahead of the company’s fiscal second-quarter earnings report, due in 8 days. According to InvestingPro data, analyst targets range from $225 to $440, with the stock currently trading at $247.87.
The investment firm’s research indicates softening business trends for Salesforce and limited near-term catalysts, beyond better second-half enterprise IT spending seasonality. Despite these concerns, the company maintains impressive gross profit margins of 77.3% and has achieved 8% revenue growth over the last twelve months.
Oppenheimer notes that the upcoming earnings update may not catalyze new opinions on the stock, as artificial intelligence messaging and estimates are unlikely to materially change after results.
The firm acknowledges execution risk remains in the second half of fiscal year 2026 from lingering macroeconomic and AI-related uncertainty.
Despite these concerns, Oppenheimer views Agentforce and Data Cloud as investable themes and highlights that margin growth continues, while current multiples already discount many risks.
In other recent news, Salesforce.com has been making headlines with a series of developments. Analysts from BofA Securities, TD Cowen, and Stifel have all adjusted their price targets for Salesforce, with reductions to $325 and $335, citing factors such as AI evaluation pauses, mixed demand signals, and multiple compression. Despite these adjustments, each firm has maintained a Buy rating on the stock. Meanwhile, Citizens JMP has reiterated a Market Outperform rating with a $430 price target, noting a higher percentage of positive data points compared to the previous quarter.
Additionally, Salesforce.com and ServiceNow Inc. are in advanced talks to invest $1.5 billion in Genesys Cloud Services Inc., with each company contributing $750 million. This investment values Genesys at approximately $15 billion and highlights a rare instance of collaboration between competing enterprise software companies. These recent developments provide investors with insights into Salesforce’s strategic moves and analyst perspectives.
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