Sam Boughedda

Investing.com — Salesforce.com Inc (NYSE:) stock is now up 1.35%, despite an earlier dip after Jefferies analyst Brent Thill lowered the price target on the company’s shares to $330 from $360, keeping a Buy rating.

While acknowledging the difficulties of near-term comparisons, the analyst did not consider it a bad stock and he still considered the stock a good long-term purchase.

Thill wrote that Salesforce is a strong growth engine and should be able to support high-teens top line growth of $52 billion in fiscal 2026, which was consistent with consensus.

He said that company’s portfolio includes products that have been market leaders within their specific areas and hold the top one to two spots in each of the markets in which they operate.

Thill said that Salesforce was well-positioned to continue growing above market growth and take share.

An analyst suggested that the target price be lowered based upon a software valuation downdraft.