Agentforce in 4,000+ Deals: Can Salesforce Monetize the Momentum?

Salesforce's CRM Agentforce platform, which uses artificial intelligence (AI) to help companies automate tasks and improve customer service, is growing quickly. In just two quarters, Salesforce has signed more than 4,000 paid deals and more than 8,000 total deployments. The product has already crossed $100 million in annualized recurring revenues, showing strong early demand.

Salesforce is witnessing a clear trend that many customers are coming back to buy more. About 30% of Agentforce bookings in the last quarter came from existing customers. This demonstrates that the product is working well for businesses and has room to grow further. Agentforce is also being bundled with other Salesforce products like Data Cloud, making each deal more valuable.

To keep this momentum, Salesforce is planning to add more salespeople and has introduced a new pricing model that makes it easier for customers to scale up. It’s also using internal teams to help customers adopt Agentforce faster.

Still, there are risks. Salesforce faces strong competition, and some large companies may take time to fully adopt the platform. However, if Salesforce can keep delivering real value to customers and continue improving the product, Agentforce could grow into a major revenue driver and help push Salesforce’s overall growth higher in the coming years.

How Competitors Stack Up Against Salesforce?

As Salesforce pushes Agentforce deeper into the enterprise, it faces strong competition from tech giants like Microsoft MSFT and Oracle ORCL. Microsoft has tightly integrated AI assistants, called Copilot, into its Dynamics 365 suite. Copilot leverages Microsoft’s leading position in generative AI through its partnership with OpenAI, giving it an edge in both functionality and familiarity for users already on Microsoft platforms.

Meanwhile, Oracle is embedding AI into its Fusion Cloud Applications and has recently expanded its AI infrastructure capabilities. Oracle’s strength lies in its enterprise data management and long-standing relationships in regulated industries like healthcare and finance, sectors that Salesforce is targeting with Agentforce.

While Salesforce may be the first to scale agentic AI across its full customer relationship management software stack, it must move fast. Both Microsoft and Oracle have the resources and customer bases to compete aggressively.

Salesforce’s Price Performance, Valuation and Estimates

Shares of Salesforce have plunged 20.4% year to date against the Zacks Computer – Software industry’s rise of 9.2%.

From a valuation standpoint, CRM trades at a forward price-to-earnings ratio of 22.65, significantly below the industry’s average of 32.67.

The Zacks Consensus Estimate for Salesforce’s fiscal 2026 and 2027 earnings implies a year-over-year increase of approximately 10.7% and 11.2%, respectively. The estimates for fiscal 2026 and fiscal 2027 have been revised upward in the past seven days and 30 days, respectively.

Salesforce currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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