Stifel Trims Salesforce (CRM) Price Target to $300, Maintains Buy Rating Ahead of Dreamforce

Salesforce, Inc. (NYSE:CRM) is one of the Trending AI Stocks on Wall Street. On October 9, Stifel lowered the firm’s price target on the stock to $300 from $325 and kept a Buy rating on the shares.

The price target downgrade comes ahead of Dreamforce, Salesforce's flagship annual conference about to take place in San Francisco. According to the analyst, shares have “failed to gain any momentum” as investors are waiting to see stronger revenue growth and clear signs of AI monetization.

As for the Dreamforce event, the firm believes that constructive commentary at the event can help to bring greater clarity to Salesforce’s AI positioning and set the course for second-half earnings.

“Dreamforce will take place in San Francisco next week against a backdrop of AI disruption fears across the software group. Shares have failed to gain any momentum YTD, as investors continue to look for signs of top-line improvement and meaningful AI monetization, and we see the event as an opportunity for Salesforce to showcase Agentforce traction in its 1st year post-launch, demonstrate ‘real-life’ customer use-cases that can be delivered across the customer base, introduce new Agentforce solutions, and outline future plans for its Data Cloud offering post-INFA acquisition. While it’s difficult to see sentiment turning on a dime, we believe constructive commentary on these topics can help bring greater clarity to the company’s AI positioning and set the stage for 2H earnings. The company will host an investor event during the course of the conference as well. We maintain our Buy rating but are trimming our target price to $300.”

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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