Salesforce, Inc. (NYSE:CRM) is one of the AI Stocks on the Market’s Radar. On December 4, TD Cowen maintained its Buy rating on the stock with a price target of $305.00. The rating, following Salesforce’s third-quarter earnings report, reflects optimism around momentum in the company’s AgentForce product.
The company reported third-quarter revenue in line with expectations, while growth in current remaining performance obligations (cRPO) exceeded forecasts.
Looking ahead, fourth-quarter organic revenue and cRPO guidance also align with market expectations. The firm has been particularly optimistic about the company’s bookings and pipeline, noting that management reiterated targets for growth re-acceleration.
It also emphasized positive indicators in the company’s AgentForce product line, all of which support the firm’s bullish outlook. TD Cowen has acknowledged growing adoption of AgentForce as exemplified by accelerated new paid customer additions and increasing credits utilization from the existing customer base.
Salesforce’s AI metrics have also been noteworthy, with robust growth in AI annual recurring revenue (ARR) and a rise in net new paid Agentforce deals. All of these factors, coupled with a solid valuation, reinforce the firm’s buy rating.
Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce.
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