Salesforce (CRM): Oppenheimer Maintains Outperform, Trims PT to $300 Ahead of F3Q Results

Salesforce, Inc. (NYSE:CRM) is one of the Buzzing AI Stocks on Wall Street. On December 1, Oppenheimer maintained an “Outperform” rating on the stock but reduced its price target to $300.00 from $315.00 due to lower group multiples. The firm is staying optimistic on the stock ahead of F3Q results despite muted near-term catalysts.

Oppenheimer’s optimism stems from Salesforce’s long-term AI positioning, supported by “pricing benefits, strong Agentforce and Data Cloud momentum.” The firm’s 4Q customer and IT spending surveys indicate normal end-of-year seasonality, and “with low expectations and bar to overcome this quarter.”

While upcoming results are not anticipated to shift sentiment significantly, the firm believes that Salesforce should be a winner in the AI transition owing to the “breadth and richness of its customer data,” and also because of the CEOs focus on steering it through this transition.

Continued margin growth and closing of the Informatica deal removes an overhang, analysts noted.

“Additionally, margin growth continues, Informatica closing removes an overhang, and an 8% FCF yield limits further downside. Lower PT to $300 from $315 on lower group multiples.”

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

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