Shares in Salesforce CRM stock are trading lower on Thursday despite Wall Street analysts calling the stock a buy today. Citizens JMP analyst Patrick Walravens remains optimistic on Salesforce despite the stock’s steep fall of 27.5% year-to-date. He reiterated a Buy rating on CRM stock with a $430 price target. Shares are now down 2% on Thursday and in the last week.
Walravens’ upped price forecast stems from a recent meeting with executives from Hubbl Technologies, a fast-growing AI company within the Salesforce ecosystem. According to the analyst, Hubbl shared several examples showing that Salesforce’s Agentforce platform can be much more effective if companies first fix basic issues in their systems.
Walravens hinted that Salesforce’s “Well Architected Program” may return at Dreamforce, scheduled from October 14 to October 16, to support this strategy. The program helps companies build clean, efficient systems on its platform. It offers solutions to make setups more secure, scalable, and ready for AI tools such as Agentforce.
Salesforce (CRM) is also gaining attention for its strong recent fiscal performance, with significant revenue and EPS growth. Recent partnerships and investments indicate a focus on AI integration and customer data management, positioning the company for future growth. This also suggests potential upside, something that Wall Street analysts are considering in their bullish forecasts for the stock.
On Wall Street, CRM stock has a Moderate Buy consensus rating based on 30 Buys, eight Holds, and one Sell assigned in the last three months. Most analysts, including those with high past price target accuracy like Truist Securities and Barclays, maintain a positive outlook. However, Macquarie remains cautious with a ‘Neutral’ rating and a $250 price target, close to the current price. Truist Securities stands out with a $400 target, indicating significant potential upside. At $333.74, the average Salesforce stock price target implies a 38.51% upside potential from the current $240 price.