Truist Securities has reaffirmed its “Buy” rating on Salesforce stock while maintaining a $280 price target, citing continued momentum from the company’s AI platform, Agentforce. Analysts believe Salesforce is positioning itself as a major player in enterprise artificial intelligence despite broader concerns surrounding competition in the software sector.
Agentforce Continues Driving AI Expansion
According to Truist, Salesforce’s Agentforce platform is showing strong adoption across enterprise customers and partner ecosystems. The platform focuses on “agentic AI,” allowing businesses to automate tasks, customer support and workflow management using AI-powered digital agents.
The firm noted that growing customer demand for AI tools could help accelerate Salesforce’s subscription and support revenue growth into fiscal 2027 and beyond. Analysts also pointed to improving annual recurring revenue linked to Agentforce as a positive sign for long-term expansion.
Strong Earnings Support Bullish Outlook
Salesforce recently reported better-than-expected quarterly earnings, fueled partly by rising demand for its AI-driven services. The company posted revenue of approximately $11.13 billion and adjusted earnings that exceeded Wall Street forecasts.
Agentforce and Data 360 together generated billions in annual recurring revenue, highlighting the growing importance of AI products within Salesforce’s broader business strategy. CEO Marc Benioff described “Agentic AI” as a major future growth opportunity for enterprise customers.
Challenges Still Remain
Despite optimism around AI growth, some analysts remain cautious about Salesforce’s slower revenue growth outlook and increasing competition from AI-native software companies. Investor concerns over pricing, adoption speed and broader economic uncertainty have also pressured the stock in recent months.
Salesforce shares have experienced significant volatility in 2026, with the stock previously falling sharply due to worries about slowing growth and changing investor sentiment toward software companies.
Broader Market Implications
Truist’s continued support reflects broader Wall Street confidence that enterprise AI spending could become a key driver for software companies over the next several years. Analysts believe Salesforce’s large customer base and integrated cloud ecosystem may help the company compete effectively as businesses increasingly invest in AI-powered automation tools.
