Argus increased its price target on Salesforce to $300 from $290 while maintaining a Buy rating, citing the company’s second upward guidance revision in recent months and expectations for accelerated revenue growth in the fiscal second half of 2027.
The upgrade follows Salesforce’s fiscal first-quarter 2027 results, which showed an 11% year-over-year revenue increase to $9.32 billion and a 10% rise in non-GAAP operating income. Gross profit margin remained stable at 77%, while current remaining performance obligation grew 14%, exceeding the 13% consensus estimate.
Argus also raised its fiscal 2027 non-GAAP earnings per share estimate to $16.68 from $14.41, though it left its fiscal 2028 forecast unchanged at $15.55. The firm highlighted Salesforce’s strategic focus on enterprise agentic AI, including a new partnership with Anthropic, as a key driver of long-term growth.
Several other analysts adjusted their outlooks in response. Truist Securities raised its target to $300, TD Cowen increased its target to $280 with a positive outlook, and Monness, Crespi, Hardt boosted its target to $266. KeyBanc maintained a Sector Weight rating.
Salesforce’s valuation metrics, as tracked by InvestingPro, show a P/E ratio of 24 and a PEG ratio of 0.38. Analysts have revised earnings estimates upward for 30 upcoming periods, reflecting growing confidence in the company’s AI integration strategy and sustained revenue momentum.
