TLDR
- Salesforce set a fiscal 2030 revenue target of over $63 billion, ahead of Wall Street estimates of $60.66 billion
- The target was announced at Dreamforce, with CEO Marc Benioff expressing high confidence in the company’s direction
- Stifel raised its price target on CRM to $300 from $275, maintaining a Buy rating
- Salesforce outlined six AI monetization paths, including Agentforce, Data 360, Agent Fabric, and APIs
- Multiple analysts reiterated Buy or Outperform ratings, with several raising price targets to $300
Salesforce set a fiscal 2030 annual revenue target of over $63 billion at its Dreamforce conference this week. That figure tops the Wall Street consensus estimate of $60.66 billion, according to analysts polled by FactSet.
The announcement came during an investor and analyst session at Dreamforce on Wednesday. CEO Marc Benioff told attendees: “Our relevance has never been higher.”
CRM stock is currently trading at $250.54, down 2% on the day. The stock carries a P/E ratio of 23.24 and a PEG ratio of 0.38, which Stifel flagged as attractive relative to growth.
Stifel raised its price target on CRM to $300 from $275 while keeping a Buy rating. The firm said management pointed to record pipeline levels and expressed confidence that net new annual order value growth will continue to outpace annual order value growth.
Six Ways Salesforce Plans to Monetize AI
Stifel laid out six monetization paths Salesforce is pursuing: more core licenses, premium SKU upgrades, Agentforce and out-of-the-box agent spend, Data 360, Agent Fabric and Guardian, and APIs, MCPs, context and infrastructure.
The firm views these as the most important drivers behind Salesforce’s medium-term growth outlook. Salesforce’s gross profit margin sits at 77%, with 11% revenue growth over the last twelve months.
A key theme at Dreamforce was how easily customers can build custom applications, dashboards, and artifacts grounded in Salesforce data. Stifel noted the company is embracing the user interface shift with AIforce.
Partner checks pointed to strong customer demand and adoption potential for these tools.
Wall Street Reaction
Multiple analysts responded positively to the week’s announcements. Oppenheimer reiterated an Outperform rating with a $275 price target, citing the 11% compound annual growth rate implied by the 2030 target.
TD Cowen kept a Buy rating and $300 price target, highlighting Salesforce’s focus on AIforce and Slack integration. Cantor Fitzgerald reiterated an Overweight rating and $300 price target, pointing to new products like Headless 360 and Claudeforce.
Guggenheim raised its price target to $300 from $270, citing Salesforce’s strategic approach to AI pricing. DA Davidson increased its target to $225 from $200 but kept a Neutral rating.
The long-term revenue target comes one month after Salesforce raised its guidance, reporting higher second-quarter profit and revenue driven by demand for its AI and data products.
Benioff said at Dreamforce: “Our ability to walk up to any customer now and to show them a piece of technology that can radically transform their company very, very rapidly is unprecedented.”
Record pipeline levels and strong partner checks were among the key data points management highlighted during the analyst day session.
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