Salesforce.com IncJPMorgan turns bullish with $276 PT, EPS beat, raised guidance, and buybacks

JPMorgan has turned bullish on Salesforce after the stock surged 20.18% over the past month and 7.82% in the past week. The firm's $276 price target implies roughly 37% upside from the current $201.37, with a 90% confidence level and a BUY recommendation. Salesforce reported Q1 FY27 EPS of $3.88 versus a $3.13 consensus, a 24.08% beat and its fifth consecutive EPS beat, while revenue grew 13.3% year-over-year to $11.13 billion and management raised full-year FY27 revenue guidance to $45.9 billion to $46.2 billion. Agentforce ARR crossed $1.2 billion, up 205% year-over-year, and combined Agentforce plus Data 360 ARR reached $3.4 billion, which JPMorgan and other sell-siders are anchoring on. The bull case sees Salesforce reaching $289.60 over 12 months, a 43.81% total return, supported by a $25 billion accelerated share repurchase that already retired 103 million shares and a fresh $50 billion buyback authorization, while the bear case still leaves the stock at $232.62, a 15.52% return, due to valuation support at 15x forward earnings.
Salesforce.com IncJPMorgan turns bullish with $276 PT, EPS beat, raised guidance, and buybacks
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