Earnings
Home›Earnings›Analyst Ratings›Salesforce shares jump after Citi raises price target…
Salesforce shares jump after Citi raises price target ahead of earnings
Citi lifted its Salesforce price target to $204 from $187, citing modestly improving conditions and channel checks before the companys fiscal 2027 second-quarter report on Aug. 26.
Salesforce shares rallied on Tuesday, rising as much as 4.4% and still up 3.9% by 3:37 p.m. ET, according to coverage by Yahoo Finance. The move was tied to a Wall Street endorsement ahead of the companys scheduled fiscal 2027 second-quarter financial report on Aug. 26.
Yahoo Finance said Citi analyst Tyler Radke kept a neutral rating on Salesforce but raised his price target to $204, up from $187, implying about 7% upside from Mondays closing price. Radke pointed to modestly improving conditions compared with the prior quarter and noted that higher expectations aligned with consensus after better-than-expected channel checks.
For the quarter, Salesforce forecast revenue of $11.31 billion, about 10.5% growth, and adjusted EPS of $3.26 at the midpoint of its guidance, Yahoo Finance reported. Wall Street consensus estimates were slightly higher at $11.32 billion revenue and $3.27 adjusted EPS, both essentially in line with managements numbers.
The story also highlighted that Salesforce has been adjusting its offerings toward an AI-powered future, including its Agentforce platform for building and deploying autonomous agents. Yahoo Finance added that in Q1, Salesforce reported record revenue of $11.1 billion, up 13% year over year, with adjusted EPS up 50% to $3.88, and remaining performance obligation rising 14% to $33.6 billion.