Salesforce’s AI Agents: The Key to a Stock Comeback?

Salesforce Inc. is at a critical crossroads. Once the undisputed leader in cloud-based customer relationship management (CRM), the company is now facing investor skepticism as its stock struggles to regain momentum. The key to its revival? AI agents.

In October, Salesforce launched Agentforce, its ambitious AI-powered automation tool designed to handle complex, multi-step processes for businesses without human intervention. The product received an upgrade in December, setting the stage for the company’s latest earnings report—a pivotal moment that will determine whether AI can deliver real financial results.

AI: The Defining Factor for Salesforce’s Future

Wall Street analysts and investors alike are watching closely. If Agentforce delivers solid adoption numbers and contributes meaningfully to revenue growth, it could reignite bullish sentiment around the stock. However, any sign of weak traction could reinforce concerns that AI investments aren’t yielding the expected returns.

“AI agents are now at the forefront of the software trade, and this is the first quarter where we should see hard numbers,” said Clayton Allison, portfolio manager at Prime Capital Financial. “If Salesforce can show tangible revenue impact, it would validate the broader AI-driven growth thesis.”

The Stock Struggles Despite Previous AI Boost

Salesforce’s stock has had a turbulent ride. While a previous earnings beat—driven in part by AI—sparked a rally to record highs, the stock has since retreated, dropping 16% since December. The decline has outpaced broader software-sector losses, leaving investors questioning whether the initial AI enthusiasm was premature.

In the past week alone, Salesforce shares logged their worst performance since August, closing at their lowest level since November. Year-to-date, the stock is down nearly 8%, significantly underperforming both the S&P 500 tech sector and the software industry index.

Investor Optimism Meets Cautious Reality

Despite recent struggles, many analysts remain confident in Salesforce’s long-term AI strategy. Morgan Stanley has described the company as being "in the right place for the shift towards Agentic Computing." Scotiabank reports that enterprise clients are expanding their spending on Salesforce’s AI-driven solutions, though it acknowledges that near-term growth is still uncertain.

Salesforce is not alone in this AI race. Rivals such as OpenAI are also developing AI agents, and the competition is intensifying. However, Salesforce has a key advantage: deep customer integration. Companies that already rely on Salesforce for CRM solutions are more likely to adopt Agentforce rather than experiment with standalone AI alternatives.

Will AI Revive Salesforce’s Valuation?

The current market environment presents an opportunity. Salesforce trades at 27 times estimated earnings, significantly below its 10-year average. That makes it one of the cheaper AI-related tech plays, with a potential upside if AI execution meets expectations.

Some experts, such as Eric Clark of Accuvest Global Advisors, believe that Salesforce could see its stock price exceed $500 in the coming years—a bold prediction given its current level of just above $308.

Conclusion

The next earnings report will be a defining moment for Salesforce. If AI proves to be a true revenue driver, it could propel the stock back into favor. If not, the company may struggle to justify its AI investments in the short term. Either way, one thing is clear—Salesforce’s future hinges on the success of its AI agents.