TECH - Salesforce Leverages AI and Data Cloud for Future Expansion Eyes Significant Margin Gains and Sustained Growth Analyst Says | Benzinga
RBC Capital analyst Rishi Jaluria reiterated Salesforce Inc (NYSE:CRM) with an Outperform and raised the price target from $325 to $350.
The analyst hosted investor meetings with Valmik Desai, Director of Investor Relations, and Brooke Bakewell, Senior Manager of Investor Relations, which focused on Generative Artificial Intelligence, Data Cloud, margins, and macro.
Jaluria noted that customers are enthusiastic about generative AI and, in many cases, are turning to Salesforce to help with their AI strategies.
Also Read: Salesforce Spends $20M on Einstein Image Rights, Securing AI Brand Dominance and Guinness Record
That said, with Copilot in public beta and no release date set yet, it will likely take time before GenAI conversations translate into meaningful revenue (fiscal 2025 guidance assumes no GenAI contribution).
The analyst noted that the company believes it is well-positioned to benefit from AI because Salesforce, especially Sales/Service Cloud, serves as a control plane where people spend the vast majority of their day and a store for the majority of customer-centric data.
Salesforce’s first signs of ...