The share price rise came after the company beat third-quarter revenue estimates and offered an optimistic outlook for the final three months of the year.
The actions of Salesforce they go up more than 9% after his latest initiative in artificial intelligenceaccording to a report by Bank of America. The bank raised its price target for the stock to $440 from $390reflecting a possible increase in 33% compared to Tuesday’s close.
The rise in the share price occurred after Company to beat third-quarter revenue estimates and offered an optimistic forecast for the fourth quarter. The shares have already risen more than 13% following the results, accumulating an increase of 26% so far this year.
Bank of America supports salesforce strategy
“Third-quarter results suggest the company is leading the AI cycle with Agentforce,” the analyst wrote. Brad Sills.
Furthermore, the analysis highlights high customer interest, especially after the launch of this product in October. This emerging cycle does not compromise margin expansion, with a net increase of 10 basis points projected for fiscal 2025.
agentforce, the new AI-powered chatbot platform is a key component of the recent success of Salesforce.com According to Sills, a “healthy pipeline” of agent deals can sustain this momentum into the fourth quarter. Furthermore, the improvements in margins demonstrate that the company maintains a philosophy of balanced growth.
Optimistic projections from Wall Street
Several important analysts of Wall Street They raised their price targets following the results. JP Morgan adjusted its target price to US$380, while Goldman Sachs raised his goal to $400highlighting a stabilized macroeconomic environment that reinforces growth prospects.
Morgan Stanleyfor its part, raised its goal to US$405 since the $330highlighting the room for improvement in future revenue and margin expectations, positioning Salesforce as a “winner in the AI generation”. The bank also emphasized the possibility of Salesforce reaching revenues of 50 billion dollarshighlighting the sustainability of its growth driven by the AI strategy and its extensive customer base, which exceeds 135,000.
Source: Ambito
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