Wolfe Research Raises Salesforce Price Target, Cites Strong Agentforce Momentum

On May 24, Wolfe Research revised its financial outlook for Salesforce, Inc. (NYSE:CRM), maintaining its Outperform rating on the company’s shares but increasing the price target from $290 to $340. The update comes after Wolfe Research attended Salesforce’s Agentforce World Tour event in New York City, where analysts performed a poll and interacted with partners and customers.

Pixabay/Public Domain

According to Wolfe Research’s customer study, which had more than 50 respondents, there is increasing interest in using Agentforce. Adoption of the Data Cloud was also growing, as 33% of respondents indicated they intended to do so, up from 20% in December. The study also showed that although responses to the overall spend intensity were not entirely consistent, there was a noticeable uptick in the number of respondents anticipating a significant increase in spending.

Additionally, analysts at Wolfe Research noted that partners’ excitement about Salesforce’s new pricing model is likely to play a significant role in speeding up adoption. The new model is especially appreciated for internal use cases where the previous $2 per chat cost was thought to be too high for smaller applications.

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 the cheapest AI stock.

Read Next: 11 Best Performing Cybersecurity Stocks So Far in 2025 and 11 Best Predictive Analytics Stocks to Buy According to Analysts.

Disclosure: None.