Salesforce Shares Rise 3.4% After BofA Raises Rating to Buy

Salesforce (CRM) shares rose 3.43% in premarket trading Oct. 12 after BofA Securities raised its rating on the company to Buy from Underperform and lifted its price target to $285 from $160.

The stock traded near $237, compared with a $229.13 close on Oct. 9. The upgrade followed Salesforce’s latest quarterly results, which included more than $1.5 billion in annual recurring revenue from Agentforce for the quarter ended July 31, 2026. The figure increased more than 240% from a year earlier and includes Slackbot and Headless 360 beginning in fiscal second quarter 2027.

Agentforce and Data 360 produced nearly $3.9 billion in combined annual recurring revenue, up more than 210% year over year. Salesforce has positioned Agentforce as an artificial intelligence agent layer integrated across its customer relationship management platform.

Organizations can use Agentforce to create automated assistants that evaluate information and perform actions within Salesforce applications. The company’s expansion of AI tools builds on its work integrating Slack with customer data and business workflows, as described in Salesforce’s expansion of Slack with AI agents and live CRM workflows.

Salesforce reported fiscal second-quarter revenue of $11.345 billion, up 11% from $10.236 billion a year earlier. Non-GAAP diluted earnings totaled $5.90 per share, while GAAP diluted earnings were $4.29 per share.

The company raised its fiscal 2027 revenue guidance to $46.1 billion-$46.4 billion, implying year-over-year growth of 11%-12%. Current remaining performance obligations stood at $33.5 billion as of July 31, up 14% year over year. Total remaining performance obligations reached $66.3 billion, an 11% increase.

“We just delivered one of our best quarters ever, outperforming across every key metric,” Salesforce Chair and CEO Marc Benioff said. “AI is delivering value across every layer of our platform.”