Salesforce (CRM) Price Target Raised as AI Growth and Buybacks Impress Analysts

Salesforce, Inc. (NYSE:CRM) ranks among the hot stocks to invest in right now. With a price target of $305, BNP Paribas Exane reaffirmed its Outperform rating on Salesforce, Inc. (NYSE:CRM) on September 4. According to the firm, Salesforce doubled the number of paying Agentforce customers from the previous quarter, adding 2,000 more per quarter, from 4,000 to 6,000.

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The firm pointed out Salesforce’s low valuation and weak year-to-date performance, arguing that the reiteration of fiscal year forecasts and proof of advancements in data and artificial intelligence should have been enough to raise the share price.

Salesforce’s $20 billion buyback program increase was also cited by BNP Paribas as evidence that “investment discipline is here to stay.”

Salesforce, Inc. (NYSE:CRM) is a cloud-based software company focused on customer relationship management. The company offers custom software and solutions for various applications, such as analytics, marketing automation, and sales.

While we acknowledge the potential of CRM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.