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Salesforce Stock Surges 3.18% Amid AI-Driven Optimism and Robust Earnings

AInvestWednesday, Oct 2, 2024 6:30 pm ET
1min read

Salesforce (CRM) recently witnessed a notable 3.18% increase, marking a significant high in stock value since May 2024. This uptick aligns with positive sentiment following the company’s financial report dated August 29, 2025. Salesforce reported a revenue of $184.58 billion, reflecting a 9.54% increase year-over-year, with net income surging by 102.05% to $29.62 billion, and basic earnings per share at $3.06.

Founded in 1999, Salesforce has established itself as a global leader in customer relationship management (CRM) technology. The firm's AI-powered Customer 360 platform effectively integrates data across systems and devices, uniting sales, service, marketing, commerce, and IT teams to provide a comprehensive customer view.

Wedbush maintains its "outperform" rating on Salesforce, recently increasing the target price from $315 to $325. This optimistic outlook is largely attributed to the launch of Agentforce, which enables customers to build and deploy autonomous AI agents for various tasks. The product has reportedly resonated well with the customer base, highlighting Salesforce's strategic focus on expanding its AI capabilities.

According to Wedbush analyst Daniel Ives, Salesforce’s robust AI strategy is garnering significant traction among its core clients, facilitating interactions across applications. There's also a potential market opportunity of over $40 billion annually through AI monetization within Salesforce’s extensive installed base, which could significantly boost its revenue in the coming years.

Conversely, analyst Yiannis Zourmpanos from Seeking Alpha offers a "hold" rating due to concerns about high valuation and slowing revenue growth. While acknowledging Salesforce's strong profitability and expansion in AI and multi-cloud solutions, Zourmpanos advises caution, as elevated valuations require careful consideration.

Overall, Salesforce receives a "moderate buy" consensus from Wall Street analysts, with an average target price of $309.71, indicating potential upside from its current position.

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