Salesforce shares fell more than 3% on Thursday, trading near $242–$245, even as multiple Wall Street analysts raised their price targets after the company’s Dreamforce conference and investor day.
Salesforce reaffirmed its fiscal 2030 revenue target of more than $63 billion, ahead of the $60.66 billion consensus estimate. CEO Marc Benioff told attendees, “Our relevance has never been higher.” However, the company only raised its fiscal 2027 revenue outlook to the high end of its previous range and did not issue formal fiscal 2028 guidance, which disappointed some investors.
Stifel raised its CRM price target to $300 from $275 while maintaining a Buy rating. Guggenheim and Canaccord Genuity also moved to $300, while Freedom Capital lifted its target to $295. Oppenheimer, TD Cowen, and Cantor Fitzgerald maintained positive ratings. The Wall Street consensus remains a Moderate Buy with an average price target of $272.54, implying roughly 12% upside.
Salesforce outlined six AI monetization paths: more core licenses, premium SKU upgrades, Agentforce and out-of-the-box agent spend, Data 360, Agent Fabric and Guardian, and APIs, MCPs, context and infrastructure. The company also launched Koa, its first reasoning AI model built specifically for CRM in partnership with Nvidia.
Agentforce adoption metrics were strong: the top 100 Agentforce customers generated more than 2x their annual recurring revenue within 18 months of launch, and premium license ARR crossed $1 billion. Premium mix climbed to 5% in fiscal Q2 2027, up from 1% in fiscal Q1 2025. Upgrades to Agentforce 1 Edition carry a 60% to 80% increase in average selling prices. Nine of the top 10 AI companies use Salesforce, with ARR from that group jumping 435% year over year.
