Needham analyst Scott Berg maintained Salesforce with a Buy and a $375 price target. BofA Securities analyst Brad Sills reiterated a Buy on Salesforce with a price target of $440.
Goldman Sachs analyst Kash Rangan maintained a Buy rating on Salesforce with a price target of $400.
Truist analyst Terry Tillman reiterated a Buy rating on Salesforce with a price target of $400. Wedbush analyst Daniel Ives maintained Salesforce with an Outperform and a $425 price target.
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Needham: Berg virtually attended Salesforce’s Agentforce 2.0 release, coming away optimistic regarding updated Agentforce deal metrics (1000+ deals closed versus 200+ as of third-quarter) along with the expanded capabilities of the new platform.
Compared to version 1.0, which focuses on Sales and Service-oriented support, 2.0 looks to help internal processes and enterprise information gathering by leveraging Slack as the central Agent “hub” to pull information together across enterprise platforms.
Agentforce 2.0 highlights the Halo effect with Mulesoft and Data Cloud even more than Gen 1. Enhancements to the Atlas Reasoning Engine will further expand usage into more complex use cases. With an estimated TAM expansion of over $740 billion through AI spending, Agentforce seems poised to drive incremental top-line growth, which Berg noted as more tilted toward fiscal 2027. Berg projected fourth-quarter revenue of $10.04 billion and adjusted EPS of $2.60.
BofA Securities: Sills attended Salesforce’s Agentforce 2.0 launch virtually on Tuesday. The analyst is encouraged by the platform’s progress, which is now embedded into sales, marketing, Slack, and others. Also, the company is expanding the scope of Agentforce to integrate data for workflow across key third-party applications.
Finally, Agentforce 2.0 bolsters the AI platform with enhanced reasoning via the Atlas engine. Sills remains bullish on the agent opportunity for Salesforce in fiscal 2026 and the longer term. The analyst estimates Agentforce could provide incremental 1%-2% points of revenue growth in fiscal 2026 and 2027 each. The stock remains his top pick.
Goldman Sachs: Rangan rerated on the back of Salesforce’s Agentforce 2.0 event, which continues to amplify the company’s technical leadership. The analyst returned incrementally positive on Salesforce’s execution of its Gen-AI product roadmap with the development of enhanced capabilities within months of Agentforce’s release in September and delivery of quick-to-value productivity benefits.
While this might take time to drive meaningful revenue contribution, Rangan noted near-term tailwinds stemming from macro improvement, IT budget unlock as AI spending moves into the application layer, Data Cloud’s added contribution as it approaches ~$1 billion, and cyclical improvements in Marketing and Commerce Cloud.
Truist: Tillman virtually attended Salesforce’s Agentforce 2.0 unveiling event. Along with several product roadmap updates, the company has disclosed closing 1,000 paid Agentforce deals. Recall that Salesforce signed 200 Agentforce deals in the third quarter of 2025, which Tillman noted was approximately quadruple the company’s initial expectations.
Other highlights included notable internal efficiency stats with Agentforce, currently available Agent skills updates, and a fulsome roadmap, including several critical upcoming updates to Salesforce’s Atlas Reasoning Engine. Tillman noted that the company maintains an improved pace of innovation with Agentforce capabilities and anticipates major releases through the calendar of 2025, including Agentforce 3.0 in May.
Tillman noted that the premium on revenue versus peers is well justified given that the company offers an attractive balance of growth at scale and expanding profitability and cash flow, all with multiple capital allocation avenues setting the stage for consistent long-term shareholder returns. Also, the potential for growth acceleration while continuing to expand margins bodes well for potential upside and higher valuation implications
Wedbush: The company’s agents are built to handle routine use cases so humans can focus on handling difficult situations with significantly higher resolution on sales and services issues, with ~5k conversations being passed to humans out of ~32k conversations per week.
With the AI Revolution entering the software phase heading into 2025, Salesforce is well positioned to capture its fair share of market expansion as the AI monetization phase will catalyze Salesforce’s development over the next 12 to 18 months with a $7 trillion digital labor market opportunity on the horizon for Salesforce.
Ives noted Salesforce is a clear second derivative beneficiary of the AI Revolution that could add ~$80 per share to the Salesforce story as this monetization story takes shape over the next 12 to 18 months with CEO Marc Benioff leading the charge and this new era of AI growth. Ives projected fourth-quarter revenue of $10.01 billion and adjusted EPS of $2.60.
Price Action: CRM stock traded higher by 0.23% to $351.77 at the last check on Wednesday.
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