Salesforce is a leading cloud-based customer relationship management (CRM) software company. The Salesforce Outlook is a feature that integrates the company with Microsoft Outlook so that users can seamlessly manage customer interactions, track emails, and schedule tasks or events within both systems.
Salesforce just made it full-year outlook even better and analysts have raised their price targets. Furthermore, the company’s new autonomous AI offering, Agentforce, which launched in October, has garnered significant early interest, according to analysts.
These positive momentums have increased the shares of Salesforce on Wednesday to nearly 38% this year. Stifel Financial Corp, one of the analysts, maintained its “outperform” rating and raised its price target to $425 from $390.
That means Salesforce’s stock price is already 17% higher than what it was worth before—and that’s after it jumped nearly 9% in one day on Wednesday. So far in 2024, the stock has climbed almost 38% overall.
Speaking of the Salesforce’s Agentforce, Bank of America (BofA) - another analyst said the autonomous AI was included in the 200 deals this quarter, further boosting Salesforce shares. The bank also raised its price target from $390 to $440.
Furthermore, BofA added that Salesforce has “a combined market share of only 15% and a formidable competitive moat.” “[W]e believe a long runway exists for Salesforce to continue growing,” BofA emphasized.
