Overview
- Truist lowered its Salesforce price target to $380 from $400 but reaffirmed a Buy rating, citing sector valuation compression and confidence in accelerating organic subscription growth.
- Salesforce reported Q3 revenue of $9.44 billion, up 8% year over year, with Subscription and Support revenue up 9% and non‑GAAP EPS of $2.41 including a $0.18 investment-related charge.
- Remaining performance obligations reached $53.1 billion, up 10%, with current RPO at $26.4 billion, rising slightly more than 10%.
- Salesforce said its Agentforce platform closed more than 200 deals in one week and reported that Data Cloud appeared in 8 of the top 10 quarterly deals, and the company plans to hire 1,400 account executives globally.
- Jim Cramer praised the quarter and described Agentforce as transformative, saying it has reached a $500 million run rate and noting post‑earnings share volatility, with those figures presented as his commentary.