Citizens reiterated its Market Outperform rating and $315 price target for Salesforce.com on Monday, hours before the cloud software giant is scheduled to release fiscal second-quarter 2027 results. The brokerage's stance follows a 28% gain in Salesforce shares over the past 30 days, which contrasts with an 18% year-to-date decline and a 12% advance in the S&P 500 over the same period.
Cantor Fitzgerald also maintained an above-average rating on Salesforce, citing the company's potential in artificial intelligence. Oppenheimer kept its Outperform rating, forecasting a favorable outcome for the quarter. Monness, Crespi, Hardt raised its target to $222, attributing the increase to progress in Salesforce's AI initiatives.
Needham maintained a $270 target on Veeva Systems, reaffirming its buy rating following the company's solid fiscal first-quarter 2027 results, an optimistic full-year outlook, and the introduction of its Veeva Falcon platform last quarter.
Separately, Salesforce, Microsoft and ADP are reportedly evaluating a bid for Darwinbox, an Indian HR software developer preparing for an initial public offering, according to sector checks published by Citizens. The brokerage noted that 50% of its fiscal second-quarter 2027 sector checks were positive, up from 22% in the prior quarter.
Salesforce is scheduled to release its earnings after U.S. markets close on Tuesday, with a conference call to follow later in the evening.
