This filing details a BNP Paribas analyst's positive outlook on Salesforce, citing accelerating new business, AI monetization through 'Agentforce,' and a significant share repurchase program. The analyst expects revenue reacceleration and increased customer spending, particularly from AI upgrades, which could drive Salesforce's stock higher.
BNP Paribas analyst Stefan Slowinski is 'incrementally positive' on Salesforce following Dreamforce, expecting revenue reacceleration from Q3 due to new business activity and AI monetization. The 'Agentforce' AI offering, particularly the Max+ tier, is seen as a clear near-term opportunity, with one customer's renewal jumping from $3-5M to $14M after deployment. This indicates strong potential for increased customer spending. Additionally, Salesforce's $25 billion accelerated share repurchase program is expected to reduce share count by over 14%, boosting shareholder returns. This news is a positive catalyst for CRM, suggesting potential upside from its current price, and could also positively impact ETFs with significant CRM exposure like IGV, FDN, and PKW.