Home / Business and Economy / Salesforce AI Soars on AgentForce Momentum
Salesforce AI Soars on AgentForce Momentum
10 Dec
Summary
- TD Cowen maintains Buy rating on Salesforce with a $305 price target.
- AgentForce product shows accelerated adoption and growing customer utilization.
- Salesforce reports strong AI ARR growth and new paid Agentforce deals.
Salesforce, Inc. (NYSE:CRM) is attracting significant attention with its AI-driven initiatives, particularly its AgentForce platform. Analyst firm TD Cowen recently reiterated a 'Buy' rating, attaching a $305 price target. This decision is strongly supported by Salesforce's latest quarterly performance and its forward-looking guidance, which align well with market expectations.
The company's third-quarter results showed revenue in line with predictions, while key growth metrics like current remaining performance obligations exceeded forecasts. Furthermore, Salesforce provided fourth-quarter guidance for organic revenue and cRPO that also met market expectations, signaling continued stability and predictable growth.
TD Cowen highlighted the accelerating adoption of AgentForce, evidenced by increased paid customer additions and greater credit utilization by existing clients. This surge, combined with robust growth in AI annual recurring revenue and net new Agentforce deals, reinforces the firm's confidence in Salesforce's AI strategy and overall valuation.
