10 Buzzing AI Stocks on Latest News and Analyst Ratings

4. Salesforce Inc (NYSE:CRM)

Number of Hedge Fund Investors: 117

Salesforce Inc (NYSE:CRM) is in the spotlight as the company held its Dreamforce event. Baird analyst Rob Oliver said that the conference highlighted positive developments in cloud and AI. Oliver also highlighted customers’ interest in Salesforce’s Agentforce and Data Cloud, both seen as critical to Salesforce Inc’s (NYSE:CRM) future. However, with Agentforce not becoming widely available until mid-October, financial impact is not expected until fiscal 2026 or 2027.

The analyst said customer conversations at the event showed high interest in the company’s product roadmap, with Agentforce being the standout topic. Early use cases are likely in sales and service, with opportunities for industry-specific applications. The platform is flexible, allowing customers to use pre-built templates or create custom agents.

Oliver has an Outperform rating and a $315 price target on Salesforce Inc (NYSE:CRM).

Ithaka US Growth Strategy stated the following regarding Salesforce, Inc. (NYSE:CRM) in its Q2 2024 investor letter:

“Salesforce, Inc. (NYSE:CRM) is the largest pure-play cloud software company, holding a leading market share in customer relationship management applications and a top-five market share position in the company’s other clouds (Marketing, Service, Platform, Analytics, Integration, and Commerce). The company’s software subscription term-license model differs from the traditional perpetual-license software model in two respects: (1) the software is hosted on centralized servers and delivered over the internet, as opposed to traditional enterprise software that is loaded directly onto customers’ hard drives or servers; and (2) the revenue model is subscription-based, typically charging monthly fees per user as opposed to charging one-time licensing fees. The stock’s weak relative performance followed its fiscal first quarter earnings announcement, where the company missed top-line and cRPO (current remaining performance obligations) estimates while also issuing weak forward guidance.”