Guggenheim's double upgrade adds momentum to an already bullish consensus, but its below-average track record means traders should treat this as a confirming signal rather than a catalyst. The high short interest and strong institutional accumulation create a favorable risk/reward for longs, with a key resistance level near $160.
Price Chart
Executive Summary
Guggenheim double-upgraded Salesforce (CRM) to Buy from Neutral with a $228 price target, implying 45.5% upside from the current $156.66. The call is a significant two-notch shift from a firm that had been on the sidelines, but Guggenheim's track record on CRM is mixed — 60% accuracy on 5 calls with a -13.1% average return. The broader consensus is heavily bullish: 74% Buy/Strong Buy, 22% Hold, 4% Sell across 58 analysts. The mean price target is $246.80, median $240.50, with a high of $475 and low of $160. Guggenheim's $228 target sits below both the mean and median, making it a relatively conservative bullish call. EPS revisions are trending higher — 44 upward revisions for the current fiscal year in the last 30 days with zero downward revisions. Institutional buying is strong, with Morgan Stanley, First Eagle, Capital Research, and Bank of America all adding significant positions, while short interest remains elevated at 55.3% of volume. The combination of a double upgrade, rising estimates, and heavy institutional accumulation supports a bullish view, though Guggenheim's below-average accuracy warrants caution.
Impact Score
Consensus & Targets
Of 58 analysts covering CRM, 43 (74%) rate it Buy or Strong Buy, 13 (22%) Hold, and 2 (4%) Sell or Strong Sell. The consensus is overwhelmingly bullish, with the majority of firms already at Buy. Guggenheim's upgrade aligns with the prevailing direction but adds a fresh voice from a previously neutral firm.
The mean price target is $246.80, median $240.50, high $475, and low $160. At $156.66, CRM trades at a 57.5% discount to the mean target. Guggenheim's $228 target is 7.6% below the mean and 5.2% below the median, placing it on the conservative side of the bullish camp.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-07-01 | Guggenheim | upgrade | Buy | $228.00 |
| 2026-06-16 | Needham | reiterate | Buy | $400.00 |
| 2026-06-16 | Canaccord Genuity | maintain | Buy | $225.00 |
| 2026-05-28 | Citigroup | maintain | Neutral | $187.00 |
| 2026-05-28 | Canaccord Genuity | maintain | Buy | $225.00 |
| 2026-05-28 | Bernstein | maintain | Underperform | — |
| 2026-05-28 | TD Cowen | maintain | Buy | $240.00 |
| 2026-05-28 | Macquarie | maintain | Neutral | $190.00 |
| 2026-05-28 | Barclays | maintain | Overweight | $236.00 |
| 2026-05-28 | Wells Fargo | maintain | Equal-Weight | $200.00 |
In the last 30 days, there has been 1 upgrade (Guggenheim) and 0 downgrades. EPS revisions are strongly positive: the current quarter saw 23 upward revisions in 7 days with no downward revisions; the current fiscal year has 44 upward revisions in 30 days with zero downward. Estimates are being revised higher across all timeframes.
Firm Track Record — Guggenheim
Guggenheim accuracy: 52% on 1149 calls | avg return: 5.1%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Raymond James | 100% | 2/2 | 22.4% | top tier |
| Deutsche Bank | 67% | 2/3 | -1.4% | top tier |
| Evercore ISI Group | 67% | 2/3 | 8% | top tier |
| Stifel | 63% | 5/8 | 4.1% | top tier |
| Guggenheim | 60% | 3/5 | -13.1% | above average |
| JP Morgan | 60% | 3/5 | 4.5% | above average |
| Baird | 50% | 3/6 | -0.5% | below average |
| TD Cowen | 50% | 2/4 | 3.4% | below average |
| DA Davidson | 50% | 6/12 | -1.8% | below average |
| Bernstein | 50% | 2/4 | 10.6% | below average |
Guggenheim has a 60% accuracy rate on 5 CRM calls, with an average return of -13.1%, ranking below average among covering firms. Top performers include Raymond James (100% on 2 calls, +22.4% avg return) and Deutsche Bank (67% on 3 calls). Guggenheim's small sample and negative returns reduce the weight of this upgrade relative to higher-accuracy peers.
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $3.27 | $3.18 — $3.47 | $11.3B | ↑23 ↓0 |
| +1q | $3.36 | $3.00 — $3.98 | $11.4B | ↑13 ↓0 |
| 0y | $14.13 | $13.22 — $15.28 | $46.1B | ↑44 ↓0 |
| +1y | $15.51 | $14.33 — $17.47 | $50.5B | ↑36 ↓0 |
Cross-Platform Signals
No insider trades were reported. Two congressional buys occurred in April 2026 — Rep. Ro Khanna (D) bought $1K-$15K and Rep. Maria Elvira Salazar (R) bought $15K-$50K. Institutional activity is heavily bullish: Morgan Stanley added 66.6%, First Eagle 42%, Capital Research 44.8%, and Bank of America 28%, while Invesco trimmed 30.4%. Short interest is elevated at 55.3% of volume, indicating significant bearish positioning that could fuel a squeeze. The institutional buying and congressional buys converge with the analyst upgrade, while the high short interest adds a contrarian squeeze potential.
Investment Themes
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 16, 2026 6w ago | Institutional Cluster | $190.97 $259.43 | ▲ +35.85% | ▲ +37.37% | $238.06 (+24.66%) |
Jul 21, 2026 10w ago | ANALYST-DOWNGRADE | $170.06 $196.00 | ▼ −15.25% | ▼ −12.69% | $238.06 (−39.99%) |
Jul 20, 2026 10w ago | ANALYST-UPGRADE | $173.79 $190.98 | ▼ −9.89% | ▼ −5.77% | $238.06 (−36.98%) |
Jul 1, 2026 13w ago | ANALYST-UPGRADE | $163.23 $188.38 | ▲ +15.41% | ▲ +17.59% | $238.06 (+45.84%) |
Jun 25, 2026 14w ago | Institutional Cluster | $150.19 $156.93 | ▼ −4.49% | ▼ −3.96% | $238.06 (−58.51%) |
Jun 1, 2026 17w ago | 8-K | $200.85 $163.23 | ▼ −18.73% | ▼ −16.91% | $238.06 (+18.53%) |
May 27, 2026 18w ago | 8-K | $176.17 $158.37 | ▼ −10.10% | ▼ −6.96% | $238.06 (+35.13%) |
Apr 16, 2026 24w ago | DEFA14A | $181.95 $167.58 | ▼ −7.90% | ▼ −13.27% | $238.06 (+30.84%) |
Apr 8, 2026 25w ago | Court Ruling | $176.26 $181.07 | ▲ +2.73% | ▼ −5.82% | $238.06 (+35.06%) |
Apr 2, 2026 26w ago | Court Ruling | $186.90 $183.59 | ▼ −1.77% | ▼ −11.65% | $238.06 (+27.37%) |
US Market Status
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