TLDR
- Salesforce (CRM) stock was near $237 in pre-market trading Monday, up about 3.5% from Friday’s $229.13 close.
- BofA moved CRM from Underperform to Buy and raised its price target from $160 to $285.
- CTOs told BofA analysts that replacing Salesforce platforms is highly unlikely.
- AI-related annual recurring revenue topped $1.5 billion last quarter, led by Agentforce.
- September CPI data is due Wednesday, October 14.
Salesforce (CRM) stock was indicated near $237 in pre-market trading Monday, a gain of about 3.5% from Friday’s $229.13 close. A double upgrade from BofA Securities set the tone.
The bank moved CRM from Underperform to Buy, two steps in one go. It also raised its price target from $160 to $285.
That undoes the bearish stance BofA took in May 2026. Back then, the worry was that artificial intelligence could pull companies away from Salesforce.
What Changed at BofA
To test that fear, analysts spoke with CTOs at large companies. The CTOs said swapping out Salesforce is highly unlikely.
The platforms run business logic, data pipelines, workflows and compliance rules. Moving all of that is a heavy lift.
Agentforce, Salesforce’s AI platform, is also gaining ground. AI-related annual recurring revenue topped $1.5 billion last quarter.
A Form 4 insider filing came in on October 11. The reports did not give details.
Analysts were already leaning positive. MarketBeat counts three Strong Buy, 30 Buy, 14 Hold and three Sell ratings.
The consensus target is $275.14. BMO lifted its target from $250 to $285 on September 17, while Argus went from $290 to $300 in August.
Earnings, Insiders and Technicals
Salesforce reported on August 26 with earnings per share of $5.90 against a $3.27 estimate. Revenue grew 10.8% to $11.35 billion, just ahead of the $11.33 billion forecast.
Fiscal 2027 EPS guidance is $16.67 to $16.71. The $0.44 quarterly dividend was paid October 8.
Director Craig Conway sold stock worth about $1.17 million on September 4 at $260.61. Director David Blair Kirk bought about $999,000 worth on September 18 at $239.33.
Institutions hold 80.43% of the company. Central Bank & Trust raised its position by 67.9% in the third quarter.
The 50-day average is $225.66 and the 200-day is $192.67. The 52-week range runs from $146.32 to $269.11.
Market cap was $188.03 billion as of Friday. US futures were mixed, with the S&P 500 and Dow up 0.1% and the Nasdaq down 0.1%.
The September CPI report is due Wednesday, October 14. CRM was last seen at $237.21 pre-market, up 3.53%.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
