Wells Fargo Raises Salesforce Price Target on AI Growth

Salesforce's AI strategy is shifting from investment to commercial activity as evidenced by its expanding annual recurring revenue for Agentforce, which exceeded $1.5 billion in the second quarter.

This growth of over 240% year-over-year, according to Salesforce's own data, has led Wells Fargo analyst Michael Turrin to raise his price target on the company from $230 to $250, while maintaining an Equal Weight rating.

The rapid expansion of Agentforce ARR is driven in part by strategic integrations with Amazon Web Services and Google Cloud, which support enterprise adoption by connecting Salesforce's AI capabilities with existing infrastructure and applications.