Wedbush analyst Daniel Ives maintains $Salesforce (CRM.US)$ with a buy rating, and adjusts the target price from $325 to $375.
According to TipRanks data, the analyst has a success rate of 54.5% and a total average return of 5.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Salesforce (CRM.US)$'s main analysts recently are as follows:
After analyzing Salesforce's new Agentforce offering, alongside the broader opportunity to deploy artificial intelligence agents for customer support tasks, there is notable potential highlighted in these initiatives.
The broader software domain is poised to intensify its engagement with artificial intelligence (AI). According to the analysis, the applications of AI are rapidly expanding, and the enterprise consumption phase is expected to kickstart in 2025 with widespread deployment of large language models. The transition towards generative AI is foreseen as a key driver for the sector, potentially marking a significant phase of the AI revolution in the software industry as it approaches 2025.
The firm is optimistic about the early reception of Agentforce and the anticipated positive effects of a new AI-driven product cycle. However, they believe that current expectations may be somewhat elevated, and patience will be required to witness significant impacts.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
