Wall Street Bullish on ​Salesforce (CRM), Here's Why

​Salesforce, Inc. (NYSE:CRM) is one of the Best Software Stocks to Buy According to Wall Street Analysts. Wall Street is also bullish on Salesforce, Inc. (NYSE:CRM). Recently, on January 26, Kirk Materne from Evercore ISI reiterated a Buy rating on the stock with a $340 price target. Earlier, on January 20, Brad Zelnick from Deutsche Bank also reiterated a Buy rating on the stock but lowered the price target from $360 to $325.

​That said, on January 26, Salesforce, Inc. (NYSE:CRM) announced receiving a $5.6 billion, 10-year contract with the US Army. Management noted that the contract is an Indefinite Delivery Indefinite Quantity deal, which means that the Army can order services as needed over the decade without fixed quantities upfront. The contract comes from the company’s subsidiary, Computable Insights LLC. Management highlighted that this is a significant step as it positions Salesforce’s defense efficiency, using its secure cloud, data integration, and AI tools to unify siloed systems.

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

While we acknowledge the potential of CRM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.