10 Exciting AI Stocks to Watch Right Now

5. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 121

Salesforce, Inc. (NYSE:CRM) is one of the 10 Exciting AI Stocks to Watch Right Now.  On September 4, Canaccord Genuity analyst David Hynes Jr. lowered the price target on the stock to $300.00 (from $350.00) while maintaining a Buy rating.

According to the firm, Salesforce reported steady, but not outstanding FQ2 results. It noted how the management has acknowledged that much of the revenue upside in the quarter was timing driven, signifying upfront revenue recognition on licensed products (MuleSoft/Tableau) and professional services.

Data Cloud and Agentic AI momentum was an obvious topic on the earnings call. However, when compared to Salesforce’s size, the growth seems rather small. Overall, the firm noted how the “quarter felt fine, not great” with not much changes being made to estimates.

“Obviously much of the call focused on momentum with Data Cloud and Agentic AI, where the tone was quite upbeat – now at $1.2B in ARR, up 120% year-over-year and roughly 20% sequentially – but for a north of $40B revenue business, the effort is still relatively small, which means that any super near-term hopes of material subscription growth reacceleration are probably misguided. And this reality is reflected in CRM’s guidance for the balance of the year – management marginally ticked higher both full year revenue and operating margin targets, but guided FQ3 a bit light, and revenue growth for the balance of the year implies high-single digits, which is more or less in line with trend. So, overall, the quarter felt fine, not great, and not much is changing with respect to estimates. We would have said this was priced into the stock heading into the print, but it looks like CRM shares are indicating down a bit, so it’s hard to know what to consider “cheap” these days in software.”

Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce.