Overview
- After Dreamforce meetings, Bank of America raised free cash flow estimates for fiscal 2027 and 2028 and reaffirmed a $325 buy rating, citing stable core demand and gradually building Agentforce pipelines.
- Salesforce introduced Agentic Enterprise Licensing Agreements that provide unlimited consumption across Agentforce, Data Cloud and MuleSoft to simplify pricing and speed enterprise rollouts.
- The company reports 12,000 Agentforce contracts with roughly 6,000 paying customers, marking rapid uptake yet underscoring a monetization gap of about 4% of its total customer base.
- Pricing remains a friction point, with Jefferies finding about 70% of customers resisting recent increases, and Salesforce will restore Help search on Nov. 15 after replacing it with Agentforce drew user backlash.
- Marc Benioff said Agentforce will expand into IT service management, customer case studies cite early ROI, and Salesforce is reinforcing the strategy with a $7 billion buyback, $15 billion in San Francisco commitments, expanded OpenAI and Anthropic partnerships, and a revenue goal above $60 billion by 2030.