Cantor Fitzgerald Raises Price Target for Salesforce Amid AI Strategy Optimism
On September 2, Cantor Fitzgerald analyst Matthew VanVliet raised the price target on Salesforce (NYSE:CRM) to $300 from $250 while maintaining an Overweight rating. The upgrade followed a webinar highlighting Salesforce's open-platform strategy and its integration of AI tools like Slackbot and Claudeforce. Analysts believe this approach allows customers flexibility in choosing AI models, potentially securing Salesforce’s position within the enterprise tech stack. Despite strategic strengths, concerns remain about whether higher valuation is justified by organic growth or if recent revenue gains are partly due to acquisitions such as Informatica. Additionally, sentiment around enterprise AI adoption may shift, affecting future re-rating potential. Nonetheless, hedge funds continue showing strong bullish interest in Salesforce with 99 holding positions and low short interest. Cantor Fitzgerald also noted that Agentforce's ARR exceeded $1.5 billion, growing over 240% year-over-year, reinforcing the firm’s confidence in Salesforce’s embedded ecosystem strategy.
Tickers: $CRM
Topics: AI CRM Strategy Enterprise Tech Stack Salesforce Valuation