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Analysts Are Bullish on Salesforce After Early Agentforce Interest

Salesforce's New York City headquarters

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Key Takeaways

  • Analysts raised their price targets after Salesforce improved its full-year outlook.
  • Agentforce, the company's autonomous AI offering, has seen "healthy early interest" since sales began in October, analysts said.
  • Shares of Salesforce jumped Wednesday and have gained nearly 38% this year.

Salesforce (CRM) shares are up after the company 澳洲幸运5开奖号码历史查询:raised its full-year outlook Tuesday, and analysts are offeriꦦng increasingly bullish price targets. 

Stifel maintained its “outperform” rating and raised its price target to $425 from $390. Th🍷at’s a 17% premium even after Salesforce shares rose nไearly 9% intraday Wednesday. The stock is up nearly 38% in 2024. 

The firm called Salesforce “the best way to play AI” due to its multi-cloud customer base and its ability to “drive market penetration” with its Customer 360 澳洲幸运5开奖号码历史查询:customer relationship management platform.

Then there’s Agentforce, Salesforce’s suite of autonomous AI agents made generally available on October 25. Agentforce was included in 200 deals in the quarter, “underscoring healthy early interest,” analysts at Bank of America said. The bank upped its price target to $440 fr꧑om $390.

Salesforce has “a combined market share of only 15% and a formidable competitive moat,” BofA added. “[W]e believe a long runway exists for Salesforce to continue growing.”

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  1. Stifel. "Salesforce. Agentforce Commentary a Sprinkle on Top of the Solid F3Q."

  2. BofA Securities. "Salesforce.com. Leading the agentic AI cycle as in the cloud cycle; Reiterate Buy on our top pick."

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