Salesforce’s Agentforce might provide multi-billion opportunity: Stifel
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Salesforce’s (NYSE:CRM) deployment of Agentforce, a platform that allows businesses to build autonomous artificial intelligence agents, might provide a multi-billion dollar opportunity, according to Stifel.
The agents can be deployed in customer service, sales, marketing and commerce, as well as health care. They can handle complex tasks and generate actionable outputs, according to Salesforce.
“There is still much Stifel doesn’t know – appetite for headcount displacement, timeline of agent adoption, who will be a serious competitor, etc. – so it is refraining from updating its model until it hears more from the company, early users, and more partners,” said Stifel analyst Parker Lane.
“However, Stifel’s math suggests Agentforce Service Agent alone could be a multi-billion-dollar opportunity for Salesforce,” Lane added.
Stifel has reiterated its Buy rating on Salesforce and increased its price target on the stock to $350 from $320 as it considers Agentforce a catalyst.
“With the stock currently trading at ~18.4x Stifel’s FY26 FCF estimate, below large-cap peers trading at 20x-40x CY25 FCF estimates, it believes Salesforce’s current multiple discounts the potential durability of revenue growth through the new agent model,” Lane noted.
Last month, Salesforce CEO Marc Benioff indicated a few key customers had already deployed Agentforce, including Wiley (WLY), Kaiser Permanente and The Walt Disney Company (DIS).
“The company’s AI initiatives, like Agentforce and Einstein Copilot, position it as a leader in AI-powered enterprise solutions, promising significant future growth,” said Seeking Alpha analyst Oakoff Investments of Beyond the Wall Investing. “Despite some analyst downgrades, Salesforce’s strategic focus on AI and strong financial health justify a medium-term target price of $311 per share.”
Next month, Microsoft (MSFT) plans to release a similar product in Copilot Studio, which allows clients to build and deploy autonomous AI service agents.