Salesforce (CRM) Price Target Raised as AI Growth and Buybacks Impress Analysts

Salesforce, Inc. (NYSE:CRM) ranks among the hot stocks to invest in right now. With a price target of $305, BNP Paribas Exane reaffirmed its Outperform rating on Salesforce, Inc. (NYSE:CRM) on September 4. According to the firm, Salesforce doubled the number of paying Agentforce customers from the previous quarter, adding 2,000 more per quarter, from 4,000 to 6,000.

The firm pointed out Salesforce’s low valuation and weak year-to-date performance, arguing that the reiteration of fiscal year forecasts and proof of advancements in data and artificial intelligence should have been enough to raise the share price.

Salesforce’s $20 billion buyback program increase was also cited by BNP Paribas as evidence that “investment discipline is here to stay.”

Salesforce, Inc. (NYSE:CRM) is a cloud-based software company focused on customer relationship management. The company offers custom software and solutions for various applications, such as analytics, marketing automation, and sales.

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Disclosure: None. This article is originally published at Insider Monkey.