Salesforce (NYSE:CRM) shares jumped 6.4% in pre-market trading Thursday after upbeat analyst reactions to the company’s Dreamforce conference and its first formal analyst day since 2022.
Barclays said it “liked the message from Dreamforce and the analyst day,” noting that “to deliver enterprise AI, customers need more than just a powerful LLM and CRM showed that it understands the complexity involved and is on the right path.” The firm described Salesforce’s new long-term guidance as both positive and realistic, calling it a strong setup.
Barclays maintained its Overweight rating, pointing to an “attractive” valuation of roughly 15x estimated 2026 enterprise value to free cash flow.
Salesforce outlined ambitious long-term goals, including an organic revenue target of $60 billion+ by FY30 and a “Rule of 50 framework by FY30,” signaling steady margin expansion and increased share buybacks. Barclays said confidence in this outlook stems from improving net new average order values and growing traction with downmarket customers.
Stifel also praised the event, emphasizing Salesforce’s clear ambition to lead in the emerging “Agentic Enterprise.” A key highlight was the launch of “Agentforce 360,” a new platform that integrates agent-building tools, voice capabilities, and enhanced automation.
Stifel noted that Salesforce introduced multiple pricing options, including the “Agentic Enterprise License Agreement,” aimed at driving adoption among large enterprise customers.
Management expressed confidence that its new AI-driven strategy will help reaccelerate top-line growth within the next 12 to 18 months. Stifel reaffirmed its Buy rating and $300 price target, stating:
“With the groundwork laid to capitalize on the rise of the ‘Agentic Enterprise,’ growth stabilizing and potentially improving in the near/mid-term, and management committing to solid margin improvement and share repurchases, we believe CRM shares are attractive at current levels.”
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