Today's value on Wall Street – Salesforce: new all-time highs thanks to Agentforce – 04/12/2024 at 4:57 p.m.

Today's value on Wall Street – Salesforce: new all-time highs thanks to Agentforce – 04/12/2024 at 4:57 p.m.
Today's value on Wall Street – Salesforce: new all-time highs thanks to Agentforce – 04/12/2024 at 4:57 p.m.

(AOF) – The biggest rise in the S&P 500 index, Salesforce jumped 9.03% to $331.36 against a backdrop of favorable prospects for Agentforce, its virtual assistant based on artificial intelligence. “The Salesforce case for Agentforce was compelling, and it is likely to become the primary argument for action”; reports JPMorgan. Since it became widely available in October, the technology firm has signed 200 contracts for Agentforce and several thousand are believed to be in the pipeline, Salesforce said during the conference with analysts.

Specific clients cited about Agentforce include FedEx, Adecco, Accenture, Ace Hardware, IBM and RBC Wealth Management.

In the third quarter, ended at the end of October, of fiscal 2025, the provider of remote customer relationship management solutions generated profit of $1.58 per share. Excluding exceptional items, earnings per share came to $2.41, 3 cents lower than consensus. Salesforce revenues increased 8% to $9.44 billion versus expectations of $9.35 billion. They also increased by 8% excluding the impact of exchange rates.

For the current quarter, Salesforce forecasts adjusted earnings per share of between $2.57 and $2.62 for revenue growth of 7% to 9%, or between $9.90 and $10.10 billion. The consensus stands at $2.63 and $10.04 billion, respectively.

For Bank of America, the company's comments suggest that no contribution from Agentforce is incorporated into the targets, suggesting that an early closing of contracts for Agentforce could be a welcome surprise.

“We feel that, for some investors at least, the Salesforce investment scenario is dominated by the positive expectations around Agentforce, with the idea that Salesforce maintains a growth trajectory of around 9-10% for certain metrics and that Agentforce serves as the “icing on the cake” for additional growth over time.

AOF – LEARN MORE

-

-

PREV Which ultra high-end smartphone to give for Christmas? Galaxy S24 Ultra, iPhone 16 pro Max or Honor Magic 6 Pro?
NEXT Gary O’Neil takes responsibility after Wolves’ crushing defeat to Everton