Salesforce has set a fiscal 2030 annual revenue target of more than $63 billion, a figure that tops the Wall Street consensus estimate of $60.66 billion, according to analysts polled by FactSet. The long-term goal was unveiled during an investor and analyst session at the company's Dreamforce conference — Salesforce's annual gathering of customers, partners, and analysts — on Wednesday. By putting a multi-year number above the Street's estimate on the record, management has handed investors a concrete yardstick against which execution can be measured in the run-up to fiscal 2030.

The announcement came with Chief Executive Marc Benioff expressing high confidence in the company's direction, telling attendees: "Our relevance has never been higher."

Stifel Lifts Price Target to $300

Salesforce, Inc. (CRM) stock is currently trading at $250.54, down 2% on the day. The shares carry a price-to-earnings ratio of 23.24 and a PEG ratio of 0.38 — a valuation measure that folds expected growth in and is traditionally viewed favorably when it sits below 1 — metrics Stifel flagged as attractive relative to the company's growth profile. Stifel's new target sits roughly 20% above the stock's current trading level.

Stifel raised its price target on CRM to $300 from $275 while maintaining 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 overall annual order value growth.

Six Ways Salesforce Plans to Monetize AI

Stifel laid out six monetization paths Salesforce is pursuing to turn AI into revenue:

1. More core licenses
2. Premium SKU upgrades
3. Agentforce and out-of-the-box agent spend
4. Data 360
5. Agent Fabric and Guardian
6. APIs, MCPs, context and infrastructure

The list stretches from the core licensing business to newer agent, data, and infrastructure offerings, a sign that Salesforce is trying to monetize AI across its portfolio rather than through a single product. 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 revenue growth of 11% over the last twelve months — a pace that matches the 11% compound annual growth rate the 2030 target implies.

A key theme at Dreamforce was how easily customers can build custom applications, dashboards, and artifacts grounded in Salesforce data. Stifel noted that the company is embracing the user interface shift with AIforce, and partner checks pointed to strong customer demand and adoption potential for these tools — an early outside read on how the new AI products are landing with customers.

Wall Street Reaction

Multiple analysts responded positively to the week's announcements, reiterating Buy or Outperform ratings and, in several cases, lifting their price targets to $300:

• 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 a $300 price target, highlighting Salesforce's focus on AIforce and Slack integration.
• Cantor Fitzgerald reiterated an Overweight rating and a $300 price target, pointing to new products such as 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 while keeping a Neutral rating.

The spread of targets, from $225 to $300, captures the range of conviction on the Street over how quickly those monetization paths will translate into revenue.

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, alongside the newly announced fiscal 2030 revenue target. The checkpoint to watch from here is whether net new annual order value growth keeps outpacing overall annual order value growth — the dynamic management said it is counting on — as quarterly results show how each of the six monetization paths is contributing on the road to fiscal 2030.

Source: CoinCentral