Salesforce Inc. (NYSE:CRM) is one of the best beaten-down technology stocks to buy now.
On July 1, Guggenheim upgraded Salesforce Inc. (NYSE:CRM) to a Buy from Neutral and set a $228 price target
The new price target implies significant upside potential, as the stock has pulled back about 38% year to date to $163.23 a share. Copyright: drserg / 123RF Stock Photo The stock has come under pressure amid concerns that agentic artificial intelligence will disrupt its traditional Software-as-a-Service business model. While Salesforce is not expected to be a major winner amid AI disruptions, Guggenheim insists the current stock price reflects extreme conditions.
For instance, the current stock price implies the stock will decline by 5% in perpetuity, something that the research firm does not agree with. Guggenheim’s John DiFucci has termed the fatal AI bear case on the software giant as a ‘hallucination’. In the first quarter of fiscal 2027, the company delivered solid financial results, with 13% revenue growth to $11.13 billion and non-GAAP EPS of $3.88, topping consensus estimates of $3.12 a share.