Morgan Stanley Remains a Buy on Salesforce (CRM) With a PT of $404

Salesforce, Inc. (NYSE:CRM) is one of the 13 Best Long Term Growth Stocks to Invest in Right Now. In a report released on June 24, Keith Weiss from Morgan Stanley maintained a Buy rating on Salesforce, Inc. (NYSE:CRM) with a price target of $404.00. The analyst supported the optimistic sentiment with the company’s potential for future growth, citing management’s clear strategy to expedite revenue growth to low teens.

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A customer service team in an office setting using the company’s Customer 360 platform to communicate with customers.

Weiss considers it a notable improvement in regards to the current growth rate, as the strategy covers the optimization of pricing and packaging, improvement of bookings dynamics, and leveraging new innovations. All of these factors are anticipated to allow solid growth for Salesforce, Inc. (NYSE:CRM), according to him.

The analyst further reasoned that Salesforce, Inc. (NYSE:CRM) has a promising product portfolio that includes GenAI solutions such as Data Cloud and Agentforce. These solutions are generating positive customer feedback and achieving significant annual recurring revenue, contributing to the company’s overall positive outlook.

In addition, core products such as Sales & Service Clouds are showing stability, along with momentum in Slack, Mulesoft, and Tableau. According to the analyst, all these factors can provide solid ground to overcome challenges in Marketing and Commerce.

Salesforce, Inc. (NYSE:CRM) designs and develops cloud-based enterprise software for customer relationship management. Its solutions encompass customer service and support, sales force automation, digital commerce, marketing automation, collaboration, community management, industry-specific solutions, and salesforce platforms. It also offers training, guidance, support, and advisory services.

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