Salesforce (CRM) PT Cut Ahead of Q2 Earnings, Buy Rating Reiterated

Salesforce, Inc. (NYSE:CRM) is one of the Hot AI Stocks to Keep on Your Radar. On August 21, TD Cowen analyst Derrick Wood lowered the price target on the stock to $335.00 (from $375.00) while maintaining a Buy rating. The rating comes ahead of the company’s second-quarter earnings report due on September 3^rd.

Firm’s enterprise checks reveal a down-tick, driven by a weak book of renewal business. However, the firm’s commercial checks have upticked and it looks like renewed investments down-market are bearing fruit.

Moreover, data cloud is performing strongly, while Agentforce commits are still measured.

“CRM reports 2Q on 9/3. Our enterprise checks down-ticked, which feels weighed down by a weak book of renewal business. But our commercial checks up-ticked & it seems renewed investments down-market are bearing fruit. Data Cloud strength remains a highlight, while Agentforce commits are still measured. Shares likely rangebound until we hit the seasonally strong 4Q. Maintain Buy. PT to $335.”

Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce.

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