Customer relationship management services provider Salesforce (CRM) has secured over 1,000 paid deals for its AI-powered platform, Agentforce, as announced by CEO Marc Benioff. At the same time, the company unveiled a new and advanced version of its digital labor platform, Agentforce 2.0, which promises to bring new reasoning, integration, and customization features.
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With the first version already being a hit with customers, Agentforce 2.0 could be an even more successful platform for enterprises. Following the launch, Mizuho Securities analyst Gregg Moskowitz reiterated his Buy rating on CRM stock with a price target of $425, implying 21.1% upside potential from current levels.
Learn More About Salesforce’s Agentforce Platform
The news was broken at a company event in San Francisco yesterday. Salesforce is on a mission to revolutionize the way companies do business, with the assistance of robots. Salesforce says organizations can use its Agentforce platform to build bots for recruiting, customer service, and other such customized tasks.
For instance, Benioff noted that Salesforce itself has reduced the number of employees involved in solving customer queries, focusing on more meaningful jobs. His vision is not to take away human jobs but to utilize the human workforce in more thoughtful jobs. Benioff also said that Salesforce was looking to ramp up its sales headcount by 10%.
Furthermore, Benioff stated that Salesforce was working on another “robot force partner program” that could connect real-world machines to virtual ones. Hotels, for example, could use these robots to carry out more mundane tasks such as cleaning guest rooms, while humans could do more complex tasks.
Mizuho Comments on Agentforce 2.0
Moskowitz was impressed by Agentforce 2.0’s enhanced capabilities to create agents, backed by an expanded library of pre-built skills in addition to greater integration with Slack. The analyst added that Agentforce 2.0 has improved data retrieval and reasoning capabilities. The five-star analyst is also encouraged by the fact that Agentforce 2.0 will be generally available in February 2025 and that a 3.0 version could be unveiled in May.
Meanwhile, Moskowitz was also impressed that Salesforce closed 1,000 deals in Q4 so far, up from the 200 deals by the end of Q3. Overall, he believes that CRM is one of the important players in offering AI-driven solutions for front office sales, marketing, and customer support efforts. He added that Agentforce could be a game-changer for Salesforce, which remains one of his top picks.
Is CRM a Good Buy Right Now?
Analysts remain divided on Salesforce’s stock trajectory currently. On TipRanks, CRM stock has a Moderate Buy consensus rating based on 31 Buys, nine Holds, and one Sell rating. The average Salesforce price target of $396.25 implies 12.9% upside potential from current levels.
