Salesforce's Agentforce Strategy Fuels Revenue Rebound
Salesforce Inc., (NYSE:CRM) is expanding its AI monetization strategy and targeting stronger revenue growth, higher customer spending, and continued shareholder returns, according to BNP Paribas analyst Stefan Slowinski.
Slowinski came away from Salesforce's Dreamforce Conference and Investor Day 'incrementally positive,' citing accelerating new business activity relative to existing contract values. He expects those trends to support a revenue reacceleration beginning in the third quarter.
BNP Paribas maintained a $265 price forecast, representing about 6% upside from Salesforce's Sept. 16 price of $250.50. Slowinski highlighted Salesforce's growing range of Agentforce pricing models, including per-seat subscriptions, usage-based pricing, hybrid models, and outcome-based pricing.
The AIforce Max+ tier, priced at $550 per user per month, is seen as the clearest near-term opportunity, with only about 5% of customers having upgraded. Salesforce's management expects to push upgrades more aggressively, and customer conversations suggest Agentforce deployments are gaining momentum despite continued confusion around pricing.
Salesforce kept its fiscal 2030 revenue outlook at $63 billion, including Informatica. Slowinski said discussions with management suggested confidence and visibility around reaching that target have improved since last year.