10 Buzzing AI Stocks Making Headlines

3. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 116

Salesforce Inc (NYSE:CRM) is a cloud-based CRM company that has gained traction after the launch of its AI-powered platform called Agentforce. On December 4, Stifel analyst J. Parker Lane raised the firm’s price target on Salesforce (CRM) to $425 from $390 and kept a “Buy” rating on the shares. Lane considers Salesforce as “the best way to play AI” owing to its sizable, multi-cloud customer base and its strategic advantage with established ownership of relevant agent workflows and data within the Customer 360 ecosystem. He further stated that the company’s cRPO growth remains in double-digits for the second consecutive quarter, even though Agentforce and Data Cloud failed to contribute meaningfully as of now.

“With the story now centered around the Agentforce/AI opportunity, we believe management’s disclosure of 200 Agentforce deals (GA late in the quarter) and a significant pipeline served as solid initial proof-points in the company’s ability to capture AI workloads and it’s positioning relative to enterprise competitors”.

– Stifel analyst J. Parker Lane.