Oppenheimer reaffirmed its "Outperform" rating and $275 price target on Salesforce stock following its annual Dreamforce customer survey. The survey indicated healthy IT budgets. It also found 85% of surveyed customers have started testing or deploying the company's new AIforce offering. These results support the near-term growth outlook.
However, the firm noted the survey showed little evidence of a significant demand inflection. Many customers remain in the pilot stage for new AI products.
Other recent analyst updates following the Dreamforce conference have been largely positive. Firms like UBS and Stifel raised their price targets, citing the potential of Salesforce's AI monetization strategy.