Salesforce (CRM) PT Cut Ahead of Q2 Earnings, Buy Rating Reiterated

Salesforce, Inc. (NYSE:CRM) is one of the Hot AI Stocks to Keep on Your Radar. On August 21, TD Cowen analyst Derrick Wood lowered the price target on the stock to $335.00 (from $375.00) while maintaining a Buy rating. The rating comes ahead of the company’s second-quarter earnings report due on September 3rd.

Firm’s enterprise checks reveal a down-tick, driven by a weak book of renewal business. However, the firm’s commercial checks have upticked and it looks like renewed investments down-market are bearing fruit.

Moreover, data cloud is performing strongly, while Agentforce commits are still measured.

Salesforce (CRM) PT Cut Ahead of Q2 Earnings, Buy Rating Reiterated

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“CRM reports 2Q on 9/3. Our enterprise checks down-ticked, which feels weighed down by a weak book of renewal business. But our commercial checks up-ticked & it seems renewed investments down-market are bearing fruit. Data Cloud strength remains a highlight, while Agentforce commits are still measured. Shares likely rangebound until we hit the seasonally strong 4Q. Maintain Buy. PT to $335.”

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

While we acknowledge the risk and potential of CRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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