Morgan Stanley analyst Keith Weiss reaffirmed a Buy rating on Salesforce, Inc. (NYSE: CRM) with a price target of $404 in a report released on June 24. Weiss supported this optimistic outlook with the company’s robust potential for future growth, driven by management’s clear strategy to expedite revenue increases into the low teens.
A notable aspect of this strategy includes optimizing pricing and packaging, improving booking dynamics, and leveraging new innovations. These measures are positioned to foster solid growth for Salesforce, according to Weiss. Salesforce’s promising product portfolio is also a key factor in the positive outlook.
Morgan Stanley backs Salesforce growth potential
The company’s GenAI solutions, such as Data Cloud and Agentforce, are reportedly generating substantial customer feedback and achieving significant annual recurring revenue. Core products like Sales & Service Clouds also show stability, supported by momentum in other offerings such as Slack, Mulesoft, and Tableau.
Salesforce, Inc. designs and develops cloud-based enterprise software focused on customer relationship management. Its solutions cover various aspects such as customer service and support, sales force automation, digital commerce, marketing automation, collaboration, community management, and more.
The company also provides training, guidance, support, and advisory services. The analyst’s positive sentiment underscores Salesforce’s capacity to overcome challenges in Marketing and Commerce, further solidifying its standing as a strong investment option in the tech sector.
