Bernstein Raises Salesforce (CRM) Price Target to $255, Keeps Underperform Rating

On May 29, Bernstein raised the firm’s price target on Salesforce, Inc. (NYSE:CRM) to $255 from $243 while keeping an Underperform rating on the shares.

The analyst updated his rating after Salesforce, Inc. released its fiscal Q1 2026 earnings on May 28, reporting a revenue of $9.8 billion, an 8% year-over-year growth.

Operating cash flow for the quarter reached $6.5 billion, rising 4% year-over-year. Free cash flow also experienced a 4% year-over-year growth to reach $6.3 billion.

These results prompted Bernstein to note that Salesforce, Inc. delivered very much of an “in-line quarter,” missing consensus on margins but beating on revenue. The company also raised its full-year guidance by $400 million to $41.3 billion at the high end of the range. According to the analyst, FX accounted for a significant portion of the revenue beat and the full-year guidance increase.

However, the quarter’s biggest story for the analyst was the announcement of the $8 billion deal in which Salesforce, Inc. is acquiring Informatica to boost its position in the AI domain. Bernstein stated that the deal was a reasonable acquisition at a reasonable price.

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