Salesforce (CRM) Wins $5.6 Billion Army Deal, Citizens Stays Positive

Salesforce, Inc. (NYSE:CRM) is one of the 10 Best AI Software Stocks to Buy Right Now. On January 27, Citizens reiterated its Market Outperform rating on Salesforce, Inc. (NYSE:CRM) with a price target of $405. The firm noted that the company’s Agentforce business surpassed $500 million in annual recurring revenue during the company’s fiscal third quarter, marking an increase of 330% year-over-year.

Citizens pointed out that existing customers are coming back to “refill the tank,” suggesting expanding consumption of Agentforce. The research firm also said its checks with partners confirm solid demand and a strong pipeline for Salesforce, Inc. (NYSE:CRM). Agentforce is being used in enterprise settings including Olive, the AI Sous Chef for Williams Sonoma, and Pepsi, where “massive efficiencies” were reported with gains of 25% to 30% after implementation of the service.

In other news, on January 26, Salesforce, Inc. (NYSE:CRM) reported that it had been awarded a $5.6 billion contract by the US Army. The deal is a 10-year Indefinite Delivery Indefinite Quantity (IDIQ) contract that will allow the Army and the Department of War to use the company’s trusted data fabric and compliant cloud technologies.

As per the report, Salesforce, Inc. (NYSE:CRM) will help support agentic enterprise, improve decision-making, streamline operations, and enhance support for warfighters, civilian personnel, industrial base partners, and dependents.

Salesforce, Inc. (NYSE:CRM) is a leading American AI cloud-based software company that specializes in customer relationship management (CRM) solutions. The company offers software, tools, services, and applications for sales, customer service, marketing, e-commerce, and analytics.

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