Piper Sandler Reiterates Overweight on salesforce.com (CRM) Amid 'Early But Promising Feedback on Agentforce'

Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and $405.00 price target on salesforce.com (NYSE: CRM).

The analyst commented: "Early But Promising Feedback on Agentforce. We hosted investor meetings with Alexandra Chan and Valmik Desai in Europe last week which reinforced prior commentary that 1) the demand environment remains measured, 2) Agentforce has reinvigorated customer engagement but not likely a material revenue driver until F2027E (CY26E), 3) investor fears that Agentforce investments could pressure margins appear overstated and unlikely, 4) internal confidence in agent potential is building with clear competitive differentiation on time-to-value (days vs. weeks), and 5) indirect AI monetization via multi-cloud cross-sell and premium editions could be underappreciated.

Agentforce Anecdotes: Early feedback suggests that 1) new deals are driving incremental ACV, albeit via bite-sized pilots, 2) consumption pricing is holding near list price of $2 with a rate card coming for higher and lower pricing, and 3) internal confidence sparked more direct competitive bake-offs with clear differentiation in timeto-value (days) vs. alternatives (weeks)."

For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.

Shares of salesforce.com closed at $324.56 yesterday.

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