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Salesforce.com Price Target Hiked On Artificial Intelligence Push

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Salesforce.com‘s (CRM) push into artificial intelligence could “support price increases, share gains and customer retention over time,” says Pacific Crest Securities, which upped its price target on the software provider.

Pacific Crest analyst Brent Bracelin increased his price target on Salesforce.com to 106 from 95.

Salesforce.com stock was flat, near 83.50, in morning trading on the stock market today. Salesforce.com stock is nearing a technical buy point of 84.58 in a flat base. Salesforce.com is the sixth-ranked stock in IBD’s enterprise software group, with Paycom Software (PAYC) as the top ranking company in that group.

San Francisco-based Salesforce.com, whose software helps businesses organize and handle sales operations and customer relationships, last year unveiled an AI platform known as Einstein. Salesforce.com aims to embed data analytics and “machine learning” into its software, making it easier for customers to automate tasks.

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