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Salesforce Reacceleration Backed by Slack Momentum, AI Growth, Oppenheimer Says

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Salesforce's (CRM) reacceleration is backed by Slack's momentum and continuous growth in the company's artificial intelligence metrics, along with solid fiscal Q2 results and full-year outlook raise, Oppenheimer said in a Thursday note.

The company reported fiscal Q2 adjusted earnings of $5.90 per diluted share, up from $2.91 a year earlier, as revenue increased to $11.35 billion from $10.24 billion. Salesforce also raised its fiscal 2027 outlook to $16.67 to $16.71 in adjusted EPS on revenue of $46.1 billion to $46.4 billion.

Management expects business to reaccelerate in H2, noting Slack's momentum and the partnership with Anthropic over Claudeforce integration, according to the note.

Oppenheimer also noted upside to the company's current remaining performance obligations after a 14% growth in fiscal Q2 and fiscal Q3 outlook above analysts' expectations.

Oppenheimer maintained the company's outperform rating and increased its price target to $275 from $250.

Price: $245.25, Change: $+39.63, Percent Change: +19.27%

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