Salesforce's Free Cash Flow Could Double by 2029 Amid AI Push, Analyst Says While Upgrading Stock
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Brent Bracelin upgraded Salesforce (CRM) to Overweight, raising the price target to $325, citing potential doubling of free cash flow by 2029 due to AI initiatives. Salesforce's valuation is favorable compared to peers, and new pricing strategies could boost growth. The company is accelerating product updates, particularly in AI, and leveraging strategic partnerships.
September 24, 2024 | 6:40 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Salesforce's accelerated product execution is supported by new management with backgrounds from Amazon, among others. This could indirectly benefit Amazon by showcasing the value of its alumni in driving innovation at other companies.
While Amazon is not directly impacted, the mention of its alumni contributing to Salesforce's success highlights the strength of Amazon's talent pool, which could be seen as a positive reflection on AMZN.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Salesforce's accelerated product execution is supported by new management with backgrounds from Google, among others. This could indirectly benefit Google by showcasing the value of its alumni in driving innovation at other companies.
While Google is not directly impacted, the mention of its alumni contributing to Salesforce's success highlights the strength of Google's talent pool, which could be seen as a positive reflection on GOOGL.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Salesforce's accelerated product execution is supported by new management with backgrounds from Microsoft, among others. This could indirectly benefit Microsoft by showcasing the value of its alumni in driving innovation at other companies.
While Microsoft is not directly impacted, the mention of its alumni contributing to Salesforce's success highlights the strength of Microsoft's talent pool, which could be seen as a positive reflection on MSFT.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Salesforce's accelerated product execution is supported by new management with backgrounds from Oracle, among others. This could indirectly benefit Oracle by showcasing the value of its alumni in driving innovation at other companies.
While Oracle is not directly impacted, the mention of its alumni contributing to Salesforce's success highlights the strength of Oracle's talent pool, which could be seen as a positive reflection on ORCL.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Salesforce has been upgraded to Overweight by Piper Sandler, with a price target increase to $325. The analyst sees potential for free cash flow to double by 2029, driven by AI initiatives and strategic pricing. Salesforce's valuation is attractive compared to peers, and new product updates are accelerating.
The upgrade to Overweight and increased price target reflect strong confidence in Salesforce's future growth, particularly in AI. The potential doubling of free cash flow and attractive valuation compared to peers are positive indicators for CRM's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100