Salesforce (CRM) Gets $430 Price Target Ahead of Q2 Results

Salesforce, Inc. (NYSE:CRM) is one of the Must-Watch AI Stocks for Investors. On August 20, Citizens JMP analyst Patrick Walravens reiterated a Market Outperform rating on the stock with a $430.00 price target. The rating affirmation comes ahead of the company’s fiscal second-quarter earnings report.

The firm’s research note stated how it collected 29 data points on Salesforce’s business. 62% of those data points were positive compared to 47% positive in the previous quarter.

“We maintain our Market Outperform rating and $430 price target on Salesforce after collecting 29 data points on the business (62% positive vs. 47% positive last quarter), ahead of the company reporting F2Q results after the close on Wednesday, Sept. 3, and after the stock has fallen 26% year to date (versus a 9% increase for the S&P 500 and an 8% increase for the Russell 3000)..”

A close up of a businessperson’s hand typing on a laptop, preparing a financial report.

The firm noted that the stock has fallen “due to concerns about growth slowing into the single digits, increasing competition, an M&A overhead from the pending Informatica acquisition, and diminishing relevance in an AI-first world.”

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

READ NEXT: 10 AI Stocks In The Spotlight For Investors and 10 Trending AI Stocks on Wall Street

Disclosure: None.