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Salesforce stock jumps 3.5% as BofA upgrades CRM to buy, sets $285 price target on AI growth
Salesforce stock jumped 3.5% as BofA upgraded CRM to Buy and set a $285 price target, citing AI growth and rising Agentforce revenue.
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Salesforce shares rose 3.5% to $237.23 during stock market trading on Monday. The stock recovered after finding support at its 50-day and 10-week average price levels. It also broke out of a short-term downward trend, which suggested that it could be a good time to buy the stock.
Bank of America (BofA) analyst Tal Liani upgraded Salesforce stock from Underperform to Buy. This means he now expects the stock to perform better. According to Investors Business Daily, the decision came as Salesforce showed signs of making more money from its artificial intelligence (AI) products.
Salesforce stock price target
Tal Liani set a price target of $285 for Salesforce stock. The target is higher than the stock's trading price of $237.23. The upgrade comes as Salesforce works to increase revenue from its AI products.
Despite Monday's rise, Salesforce stock has fallen 13% so far in 2026. The recent decline makes the latest upgrade important as investors assess the company's growth opportunities in AI.
Salesforce AI revenue grows
Salesforce reported that annual recurring revenue from its AI-based Agentforce products reached $1.5 billion in the second quarter. This was up from $1.2 billion in the April quarter, showing growth in revenue from its AI business, according to Investors Business Daily.
Salesforce's overall earnings growth accelerated for the third consecutive quarter. The growth rate increased from 14% to 50%, according to Investors Business Daily. This improvement comes as the company expands its AI offerings and looks for new ways to generate revenue.
Salesforce AIforce launch
At its Dreamforce customer conference in September, Salesforce unveiled AIforce. The new software interface connects Salesforce's data, workflows and AI agents with Anthropic's Claude system, Slack and other workplace tools. The move aims to make it easier for users to access AI tools through their existing work systems.
In August, Salesforce and Anthropic announced an expanded strategic partnership called ClaudeForce, according to Investors Business Daily. The partnership is part of Salesforce's efforts to connect its software and AI tools with Anthropic's technology.
Salesforce AI agents and pricing
Salesforce and other software companies are developing autonomous, goal-driven AI agents. These tools are designed to carry out tasks over the internet with less need for users to manage every step.
Salesforce is moving away from its traditional software-as-a-service business model towards consumption-based pricing for AI agents, according to Investors Business Daily. Under this approach, customers pay based on their use of AI services rather than relying only on traditional software subscription arrangements.
Salesforce Slack AI strategy
Salesforce is positioning its Slack app as a conversational interface for users to interact with its software and AI tools. This could allow users to access information and complete tasks through conversations instead of relying only on traditional software screens.
The company has separated its backend data and AI workflows from its traditional browser-based user interface, according to Investors Business Daily. This change supports its broader strategy of allowing AI agents and other workplace tools to work with Salesforce's systems.
Salesforce stock technical ratings
Salesforce stock has a Composite Rating of 95 out of a possible 99. The rating combines five separate proprietary ratings into one score. IBD says stocks with a Composite Rating of 90 or higher are generally among the best growth stocks.
Salesforce has an Accumulation/Distribution Rating of D+, according to IBD Stock Checkup. This rating examines changes in a stock's price and trading volume over the previous 13 weeks. A+ indicates heavy buying by institutional investors, while E indicates heavy selling. A C rating represents a neutral position.
Salesforce's Composite Rating of 95 indicates strong performance under IBD's combined rating system. However, its D+ Accumulation/Distribution Rating points to a weaker buying-and-selling trend based on price and volume activity. Both ratings provide different measures of the stock's performance.
