Salesforce Inc (NYSE:CRM) recently received an upgrade from Piper Sandler analysts.
The company's AgentForce platform is now "on par" with Microsoft Corp (NASDAQ:MSFT), according to Northland Capital Partners.
Analyst Nehal Chokshi upgraded the rating for Salesforce to Outperform, while raising the price target from $270 to $400.
The Salesforce Thesis: On Sept. 12, the company officially rolled out AgentForce. The platform enables users to deploy GenAI agents into sales, service, marketing and commerce workflows.
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AgentForce is powered by the Atlas engine, which eliminates the need to write code to build agents, while also having the ability to determine when to leverage human expertise, which is "a significant development in the field of autonomous agents," Chokshi said.
Salesforce is pricing AgentForce on a consumption basis, which aims at capturing a portion of the value GenAI creates for end customers. This could increase the software TAM (total addressable market) by $3.2 trillion, representing a 4x increase, the analyst stated.
CRM Price Action: Shares of Salesforce had risen by 1.24% to $7.83 at the time of publication on Wednesday.
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