BTIG Says Agentforce Momentum Undervalued as Salesforce (CRM) Enters AI “Second Act”

Core Insights - Salesforce, Inc. (NYSE:CRM) is gaining attention as an AI stock, with BTIG initiating coverage with a "Buy" rating and a price target of $335.00, citing momentum from Agentforce, an improving narrative, and underestimated execution [1][5] - The company is undergoing a structural shift due to artificial intelligence, aiming to secure a strong position in the market once again [1] Company Developments - Salesforce has successfully re-architected its core platform and developed Data 360, a comprehensive data platform for creating golden customer records, alongside significant innovations in the Agentforce layer [2] - The management's tone has improved, particularly noted during the Dreamforce event, where they shared business trends transparently and proactively [3] Financial Performance - Agentforce's Annual Recurring Revenue (ARR) surpassed $540 million, reflecting a 330% year-over-year increase, primarily driven by customer pilots, with an Average Revenue Per Customer (ARPC) of approximately $57,000 [5] - The number of customers in production is rapidly increasing, with a 70% quarter-over-quarter growth, and feedback from customers and partners regarding Agentforce has been largely positive [4][5] Future Outlook - There is confidence in the acceleration of New Net Annualized Organic Value (NNAOV), which is expected to grow faster than Average Order Value (AOV) through the next year, projecting a return to organic double-digit subscription revenue growth in F4Q27 [4]