Salesforce Inc (CRM) Strengthens Outlook with AI and Big Deals

Salesforce Inc (NYSE:CRM) is one of the best NYSE stocks to buy for the long term. On February 9, Morgan Stanley analysts named Salesforce Inc (NYSE:CRM) as one of their nine buy-opportunities following the recent selloff that has roiled software stocks. The analysts argue that investors have taken features around AI disruption of software companies too far.

They further note that the market is not fully appreciating the ability of software incumbents like Salesforce to benefit from AI adoption.

“The bear case arguments around GenAI appear to give too little credence to the ability of incumbent software vendors to participate in this innovation cycle,” Morgan Stanely analyst Keith Weiss wrote in the research note.

Earlier on February 6, Stifel reiterated a Buy rating on the stock with a price target of $300. Stifel noted that Salesforce shares have dropped about 25% this year, more than the broader software index, as sentiment turned negative.

The firm sees Agentforce adoption as key to Salesforce’s future, helping defend against AI rivals and boosting cloud usage. With strong gross profit margins of nearly 78% and $40.32 billion in revenue over the past year, Stifel believes rising Agentforce token use shows steady progress toward its goals.

On January 26, Salesforce announced that it had won a 10-year deal worth $5.6 billion with the U.S. Army. This deal adds to Salesforce’s existing business with the Department of War.

Salesforce Inc (NYSE:CRM) is a cloud-based software company. It provides businesses with software for sales, customer service, e-commerce, and application development. Headquartered in San Francisco, California, Salesforce has been in business since 1999.

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