Salesforce.com Soars, Price Target Hiked On Artificial Intelligence Stock News & Stock Market Analysis - IBD

Salesforce.com (CRM) stock hit a all-time high on Thursday as Barclay's raised its price target on the enterprise software maker with a bullish view of its artificial intelligence tools. Barclays hiked its price target to 127 from 117. Salesforce.com gained 1.6% to close at 111.77 on the stock market today, hitting a new high. "The combination of its AI capabilities (through Einstein) and the largest CRM (customer relationship management) database in the world (a key input factor for any AI model), will enable salesforce to offer the most powerful system in the space, which enables better pricing and customer retention," said Raimo Lenschow, a Barclays analyst in a report. Shares in Salesforce.com have jumped nearly 10% in 2018 and are up 47% from a year ago.