Truist reiterates buy rating on Salesforce stock amid positive customer feedback

Truist Securities maintained its buy rating and $400.00 price target on Salesforce.com (NYSE:CRM), a $256 billion market cap software giant, following the company’s marketing and commerce-focused customer conference, Connections 2025, held in Chicago. According to InvestingPro data, 36 analysts have revised their earnings upward for the upcoming period, with price targets ranging from $225 to $440.

The research firm highlighted insights gathered from one-on-one conversations with 10 customers and two partners at the event, as well as broader observations about the evolution of Agentforce and potential growth improvements in Salesforce’s Marketing & Commerce Cloud segment.

Truist noted that after speaking with 32 customers and 10 partners since Agentforce was unveiled, it remains confident in Salesforce’s ability to improve subscription revenue growth, excluding Informatica, as customers engage in more transformational projects.

The firm specifically pointed to customers starting with Data Cloud implementations before subsequently adopting Agentforce, suggesting a sequential adoption pattern that could drive future growth.

Truist’s maintained price target of $400.00 represents potential upside for Salesforce shares, which have faced market volatility alongside other technology stocks in recent months.

In other recent news, Salesforce announced a 6% price increase for several major products, effective August 1, 2025. The adjustments will impact Enterprise and Unlimited Editions across various cloud services, as the company integrates artificial intelligence capabilities. Salesforce also introduced its new Agentforce add-ons and editions, aiming to simplify AI adoption for customers. In response to these developments, Cantor Fitzgerald maintained an Overweight rating on Salesforce, noting the significant traction of Agentforce, which has already generated more than $100 million in annual recurring revenue. The firm projects that Agentforce could exceed $1 billion in annual recurring revenue within a few years. Meanwhile, Stifel reiterated its Buy rating, emphasizing the upcoming launch of Marketing Cloud Next (LON:NXT) in July 2025. This platform will consolidate several existing solutions into a single offering, enhancing Salesforce’s marketing technology portfolio. However, Erste Group downgraded Salesforce from Buy to Hold, citing lower anticipated revenue and net profit growth compared to the previous year. Despite these challenges, Salesforce’s leading capabilities in AI-driven data analysis continue to provide a competitive advantage.

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