Salesforce's Agentforce Growth Ignites Bullish Sentiment Amid Slowing Stock Price

Salesforce is one of Wall Street's favorite stories to follow right now. Despite being down 9.6% year-to-date, the company's underlying agentic AI business is growing faster than many other enterprise software firms.

The stock has a price target of $331.33 from 24/7 Wall St., which represents a 39.26% upside from its current price of $237.79.

One key area to watch is Agentforce, Salesforce's AI-powered sales platform. The company reported that Agentforce ARR (annual recurring revenue) reached nearly $1.5 billion in the last quarter, up over 240% year-over-year.

This growth has been driven by customers refilling their credit pools at a rate of 50%, with only 5% of users having upgraded to premium editions that come with a 60-80% premium.