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Highlights

  • KeyBanc Capital Markets’ Jackson E. Ader rates Salesforce Overweight with an AUD 677.76 target, implying an 88.54% upside from the current price.

  • Roth Capital Partners’ Richard K. Baldry assigns a Buy rating with an AUD 608.44 target, forecasting a 69.26% potential gain.

  • Ratings reflect confidence in Salesforce’s AI-driven growth and Q1 FY26 revenue of USD 9.8 billion (+8% YoY).

Salesforce Inc. (NYSE:CRM), the global leader in AI-powered customer relationship management, has earned significant endorsements from top equity research analysts.

Jackson E. Ader of KeyBanc Capital Markets has reiterated an Overweight rating on Salesforce shares, setting a price target of AUD 677.76 (USD equivalent based on a 1.54 exchange rate). This target represents an 88.54% upside from current market levels.

Similarly, Richard K. Baldry of Roth Capital Partners has maintained a Buy recommendation with a price target of AUD 608.44, reflecting a 69.26% potential upside.

Financial perfirmance in first quarter of 2026

Salesforce’s significant recurring revenue during the reported period, increasing adoption of its Data Cloud platform, and early traction from Agentforce as key growth drivers.

These bullish calls might follow Salesforce’s announcement of USD 9.8 billion in Q1 FY26 revenue, marking an 8% year-over-year increase both on a reported and constant currency basis. Subscription and support revenue accounted for USD 9.3 billion, also up 8% YoY. The company’s current remaining performance obligation (CRPO) reached USD 29.6 billion, growing 12% YoY in USD terms.

Operating performance remained significant, with a GAAP operating margin of 19.8% and a non-GAAP margin of 32.3%. Operating cash flow totaled USD 6.5 billion, up 4% YoY, while free cash flow reached USD 6.3 billion. Salesforce returned USD 3.1 billion to shareholders through share repurchases and dividends during the quarter.

AI adoption continues to be a defining theme for Salesforce’s growth story. Data Cloud and AI annual recurring revenue exceeded USD 1 billion, surging more than 120% year-over-year. Nearly 60% of Salesforce’s top 100 deals in Q1 included Data Cloud and AI solutions, while more than half involved six or more Salesforce Clouds.

The company also announced the planned acquisition of Informatica Inc., expected to close in early FY27, with no anticipated impact on FY26 guidance. Salesforce now projects Q2 FY26 revenue between USD 10.11 billion and USD 10.16 billion, and has raised its full-year forecast to USD 41.0 billion–41.3 billion, representing 8%–9% growth.

With analysts projecting up to 88% upside, Salesforce’s Q1 results, cash position, and AI-led expansion strategy are reinforcing bullish sentiment.