Oppenheimer analyst Brian Schwartz maintains $Salesforce (CRM.US)$ with a buy rating, and adjusts the target price from $330 to $385.
According to TipRanks data, the analyst has a success rate of 60.4% and a total average return of 17.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Salesforce (CRM.US)$'s main analysts recently are as follows:
Discussions with consultants revealed a distinctly positive response towards Agentforce, indicating it as a significant enhancement with genuine customer interest. The business model of Salesforce is perceived as adaptable and resilient even in a challenging macroeconomic scenario impacting software companies broadly. There is anticipated potential for increased value as the company focuses on efficiency, balancing moderated growth with profitability and free cash flow improvements, and integrating generative AI into its services.
Concerns slightly lean towards a positive outlook for Salesforce based on a comprehensive assessment of recent developments. The examination of Q3 hiring data along with earnings forecasts underlines the company's potential to sustain robust EPS growth. Moreover, improved consistency in the upcoming Q3 report and a favorable outlook underscored by potential increases in Q4 IT budgets further bolster the company's prospects.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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