Salesforce becomes latest to ride AI wave as Agentforce powers stock surge

Source Cryptopolitan

Salesforce recorded a new high as its shares went up 12% after its recently launched Agentforce helped the company exceed its sales estimate for the quarter. Its performance was boosted by its newly launched AI-integrated products, which analysts also cited in optimistic fiscal forecasts for 2025.

In late October, the customer relationship management (CRM) software heavyweight launched Agentforce, a suite of autonomous AI agents that augment employees and handle service, sales, marketing, and commerce tasks. 

Impressive Agentforce outing and positive forecast for 2025

In the early hours of morning trading, Salesforce shares hit $368.7, a record high that resulted in a potential addition of $35 billion to its current market valuation of $316.85 billion. Many analysts raised their price targets because of their confidence in the stock, according to LSEG data.

Salesforce stock went up 26% this year, with a new median price target of $380 representing an upside of about 15%. 

Other US tech company stocks in the cloud space have also seen surges in their stock prices. For example, Oracle saw a 3.2% rise, while ServiceNow gained 3.5%. Others like Datadog and Snowflake both saw a 4% rise. 

Expectations for Salesforce’s revenue for the 2025 fiscal year have slightly increased by $100 million, increasing to a new range between $37.8 billion to $38 billion compared to its previous forecast of $37.7 billion to $38 billion. 

The company also beat analyst revenue estimates, which rose to $9.44 billion during the third quarter of this year. 

While its steady growth continues to impress, analysts expect increasing enterprise adoption of Salesforce’s solutions to help the company to a steady double-digit percentage growth performance. 

Salesforce enters a competitive autonomous AI agent market

With Agentforce, Salesforce enters the race for stakes in the supply of autonomous AI agents that help businesses complete tasks. It enters competition with the likes of Microsoft, and a rivalry is already developing between both companies. 

Marc Benioff, CEO of Salesforce, called out Microsoft in October on X (Twitter), saying the latter’s Copilot does work and doesn’t deliver any level of accuracy. He also added in a press release that Agentforce is the third wave of AI and actively drives customer success.

A week before Agentforce’s release, Microsoft announced that it would be enabling customers to build autonomous AI agents through its Copilot studio in the following month, which was November.

So far, Salesforce’s Agentforce seems to have delivered on its promise. Bullish on its early success, Salesforce has gone on to project that its AI product will continue to close more deals as it has already delivered 200 deals since its launch. 

Other than the success of its Agentforce AI, Salesforce’s high-performing data cloud was another major contributor to the company’s strong quarter. To meet up with increasing demand for Agentforce, Salesforce executives are reportedly planned to hire 1400 new staff members in the fourth quarter.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Weekly Market Outlook: Focus on November U.S. CPI; Oracle, Broadcom Earnings Impact on AI Stocks​Insights - With less than four weeks left until the end of 2025, global markets are gearing up for a busy week filled with key economic data releases.
Author  Mitrade
11 hours ago
​Insights - With less than four weeks left until the end of 2025, global markets are gearing up for a busy week filled with key economic data releases.
placeholder
RBA preview December: rates to remain unchanged, hawkish tone to taperThe Reserve Bank of Australia is widely expected to keep interest rates unchanged in December, although recent signs of cooling Australian economic growth are expected to temper the bank’s hawkish tone.
Author  Investing.com
16 hours ago
The Reserve Bank of Australia is widely expected to keep interest rates unchanged in December, although recent signs of cooling Australian economic growth are expected to temper the bank’s hawkish tone.
placeholder
GBP/USD consolidates below mid-1.2700s; upside potential seems limitedGBP/USD struggles for a firm intraday direction and oscillates in a range on Monday.
Author  FXStreet
16 hours ago
GBP/USD struggles for a firm intraday direction and oscillates in a range on Monday.
placeholder
Gold price trades with mild positive bias, remains below $2,650 horizontal barrierGold price ticks higher on Monday amid bets for another Fed rate cut in December.
Author  FXStreet
16 hours ago
Gold price ticks higher on Monday amid bets for another Fed rate cut in December.
placeholder
Cardano (ADA) Battles Resistance: A Fresh Surge In Sight?​ If Cardano’s price fails to climb above the $1.20 resistance level, it could start another decline.
Author  NewsBTC
16 hours ago
​ If Cardano’s price fails to climb above the $1.20 resistance level, it could start another decline.
goTop
quote