Salesforce shares gain after JPMorgan sets a 37% upside target, citing 205% annual growth in Agentforce ARR.
JPMorgan upgraded Salesforce to bullish, setting a $276 price target, implying 37% upside from the current $201.37. The move follows a 20% monthly rally and strong AI-driven growth in Agentforce annual recurring revenue (ARR), which surged 205% year-over-year to $1.2 billion.
Salesforce reported Q1 FY27 earnings of $3.88 per share, beating consensus estimates of $3.13, marking its fifth consecutive EPS beat. Revenue rose 13.3% to $11.13 billion, with full-year guidance raised to $45.9 billion-$46.2 billion. Combined Agentforce and Data 360 ARR reached $3.4 billion, a key focus for analysts.
Despite the recent rally, Salesforce remains 23.6% lower year-to-date and 10% below its 52-week high of $267.75. The stock has climbed 7.8% in the past week and 20.2% over the past month, driven by AI monetization momentum.