Salesforce (CRM) stock has been named a “top pick” for 2025 by Bank of America (BAC).
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Bradley Sills, a four-star rated analyst at Bank of America, has a Buy rating and $440 price target on CRM stock, which is 36% higher than where the shares currently trade. Sills says Salesforce is a leading artificial intelligence (AI) play and a software company that is likely to benefit from growing use of its AI products.
In the note to clients, Bank of America says that the cloud computing company’s Agentforce AI platform has been well received, and says that, despite choppy waters in the broader tech sector, CRM stock is likely to outperform throughout 2025.
Needham’s Bullish Call
Bank of America isn’t the only Wall Street firm that is bullish on Salesforce. Independent investment bank Needham & Co. has also named CRM stock a “top pick” for the year ahead, rating the stock a Buy and placing a $400 price target on the shares.
Needham singled out Salesforce CEO Marc Benioff’s focus on AI and also praised the launch and uptake of Agentforce, which enables businesses to customize an AI bot that retrieves information and solves issues for customers like a human customer representative.
In the third quarter of last year, Salesforce said it closed 200 paid deals for Agentforce and should reach 1,000 paying customers by the end of 2024. CRM stock has increased 20% in the last 12 months.
Is CRM Stock a Buy?
The stock of Salesforce has a consensus Moderate Buy rating among 41 Wall Street analysts. That rating is based on 31 Buy, eight Hold, and two Sell recommendations issued in the last three months. The average CRM price target of $396.39 implies 22.50% upside from current levels.
