Salesforce stock rating reiterated at Strong Buy by Raymond James

Investing.com - Raymond James has reiterated its Strong Buy rating and $375.00 price target on Salesforce.com (NYSE:CRM), currently valued at $225 billion, following the company’s annual Dreamforce conference in San Francisco. According to InvestingPro analysis, the stock appears undervalued at current levels.

The research firm cited Salesforce’s first formal analyst day in several years as providing "powerful ammo against key bear debates," addressing both AI dynamics and growth metrics, including new long-term targets.

Raymond James highlighted Salesforce’s confidence in net new annual operating value (NNAOV) acceleration that should drive revenue growth in coming years, along with the company’s $60 billion FY30 revenue target representing 10% organic growth.

The growth will be fueled by Data Cloud and AI adoption, plus benefits of standardizing on a single platform in what Salesforce calls an "agentic era," with the company believing customer-level economics can grow 3-4x with Agentforce.

Raymond James questioned the current valuation of Salesforce shares at 14x free cash flow, especially considering the company’s target of 10%+ organic growth with a "rule of 50" target by FY30, alongside an increased buyback program.

In other recent news, Salesforce announced its quarterly earnings, revealing significant developments for investors. The company has expanded its strategic partnerships with OpenAI and Anthropic, enhancing its Agentforce 360 platform with AI-driven capabilities. These collaborations aim to integrate Salesforce’s CRM into ChatGPT and deliver AI solutions for regulated industries, respectively. Additionally, Salesforce has partnered with Stripe and OpenAI to introduce an Instant Checkout integration based on the Agentic Commerce Protocol, streamlining the purchasing process for merchants.

In terms of analyst ratings, RBC Capital has maintained its Sector Perform rating for Salesforce, setting a price target of $250.00 following insights from the Dreamforce 2025 conference. Conversely, Northland has downgraded Salesforce’s stock rating from Outperform to Market Perform, adjusting the price target to $264.00 due to unmet expectations regarding Average Revenue Per User (ARPU) growth. These developments reflect Salesforce’s ongoing efforts to innovate through strategic partnerships while facing mixed analyst opinions.

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