Salesforce (NYSE: CRM) is an extremely undervalued bargain stock these days, at least according to one analyst tracking the company’s fortunes. On Monday, he reiterated his bullish stance on the company and his lofty price target; thanks in no small part to this, the customer relationship management (CRM) specialist’s stock rose by almost 5% that trading session alone.
Sold on Salesforce
The prognosticator with the unshakably sunny view of Salesforce’s future is Truist Securities’ Terry Tillman. He published an update on his research, reaffirming his buy recommendation and $280 per share price target. That level is a robust 62% higher than Salesforce’s latest closing price.
According to reports, Tillman waxed bullish about the company’s prospects for the second half of its fiscal 2027. He believes its revenue should bounce higher on the back of increased customer adoption of its premium-tier products; this should juice not only the company’s top line, but profitability as well.
He’s also encouraged by what he considers Salesforce’s recent innovations in the product line. He cited the inclusion of voice capabilities in its flagship agentic artificial intelligence (AI) platform Agentforce as one example of this.
Tenacious tech
Tillman’s latest analysis coincided with a general rise in tech stocks of long standing on Monday. Many have seen their share prices wither this year, not least because of growing worries that AI will disrupt their businesses, given the increased ability of advanced models to write software code.
While there’s some validity to this, I think Salesforce, in particular, has proven not only adept at embracing AI but also putting the technology front and center for its clientele (Agentforce is a handy example of this). While I’m not sure I’d count on that 60%-plus price pop Tillman anticipates, I’d still consider Salesforce to be undervalued, even after Monday’s rally.
