Salesforce stock, down 40% from its 52-week high to $171, is predicted to reach $250 by end of 2028 based on modest assumptions: 10% annualized earnings growth and a valuation multiple recovery from 12x to 15x forward earnings. The prediction relies on the company executing its guided 11% revenue growth and continued share buybacks, without requiring AI acceleration or multiple expansion to historical levels.
Axe note: Salesforce’s steady growth and buybacks highlight a cautious optimism relevant to USD/ZAR and SA tech exposure.