Goldman Sachs analyst Kash Rangan maintains a Buy rating on Salesforce, highlighting its new AI-powered agent, Agentforce, as a major driver of value. The analyst expects Agentforce to be a key focus at Salesforce’s upcoming Dreamforce event and believes it will significantly enhance customer service capabilities, driving revenue growth and improving customer unit economics.
Salesforce CEO Marc Benioff announced a major shift towards autonomous AI agents called Agentforce, aiming to automate customer service tasks and stay competitive in the rapidly evolving generative AI landscape. This move comes after pressure from industry players like Andreessen Horowitz, who questioned Salesforce’s ability to adapt to the AI revolution. Benioff emphasizes a ‘beginner’s mind’ approach and highlights Salesforce’s existing AI investments and strategic acquisitions as key to navigating this transformation.
Salesforce, Inc. (CRM) stock climbed over 4% in after-hours trading following a strong second-quarter earnings report. The company’s revenue growth, driven by its new AI-powered agent platform ‘AgentForce’, impressed analysts. While Piper Sandler maintains a cautious outlook, the firm raised its price target citing Salesforce’s better-than-expected performance.
