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Salesforce Partners Beat Q3 Targets Amid AI Hype
29 Nov
Summary
- Three of four Salesforce partners met third-quarter targets.
- Partners report no evidence of AI disrupting business conditions.
- Demand environment remains steady with no customer loss to AI.
Cantor Fitzgerald has reiterated an Overweight rating for Salesforce, citing positive feedback from partners regarding current demand. This assessment follows recent partner discussions where three of the four interviewed met their third-quarter financial targets and are on track for annual goals.
The fourth partner, who did not meet Q3 targets due to specific, non-demand related issues, is now observing significant double-digit bookings growth in the current quarter. Importantly, these partners report no discernible evidence that AI-driven application disruptions are affecting actual business conditions or customer retention.
Overall, the demand landscape for Salesforce appears stable. Partners indicate they are not losing customers or deals to emerging AI startups. While the adoption of Agentforce, Salesforce's AI-powered platform, has been slow, the company's fundamental value proposition remains robust and relevant in the market.
