Bernstein raises Salesforce stock price target on AI growth
On August 27, Salesforce announced a revised annual revenue forecast, reflecting confidence in the growth of its AI-powered autonomous agents. This boosted its shares by 12 percent in extended trading. Salesforce partnered with Anthropic to create Claudeforce, which integrates Claude AI models into its enterprise platform to support AI agents in various workplace applications.
The company is experiencing strong demand for AI and data products, with annual recurring revenue expected to surpass US$4 billion. CEO Marc Benioff highlighted the potential of products like Headless 360 and Slackbot, which enhance user access to traditional Salesforce applications and data. Industry analyst Rebecca Wettemann noted that Salesforce now expects fiscal 2027 revenue to range between US$46.1 billion and US$46.4 billion, up from its previous forecast range of US$45.9 billion to US$46.2 billion.
Additionally, the company adjusted its annual adjusted earnings per share forecast to between US$16.67 and US$16.71, taking into account a reduction in share count.
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