10 AI Stocks on Wall Street’s Radar Right Now

3. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 162

Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained popularity after the launch of its AI-powered platform called Agentforce. On February 26, Analyst Keith Weiss from Morgan Stanley maintained a “Buy” rating on the stock and kept the price target at $405.00. Weiss’s buy rating stems from Salesforce’s robust performance in key investor metrics. In particular, its current remaining performance obligations (cRPO) have grown at 11% on a constant currency basis, surpassing both the company’s guidance and investor expectations.

The growth implies a strong demand for the company’s offerings, the firm noted. Moreover, strategic initiatives such as Agentforce and DataCloud/AI offerings have gained substantial momentum, with more than 3,000 Agentforce transactions signed in the quarter and a significant increase in annual recurring revenue. These positive developments coupled with management’s focus on expanding operating margins and maintaining a solid growth trajectory contribute to the buy rating.