Overview
- Cantor Fitzgerald reiterated an Overweight rating with a $325 price target after Dreamforce, citing Salesforce’s Agentforce 360 and Data 360 strategy as key growth drivers.
- Jim Cramer said he feels more sanguine about the stock after Dreamforce and expressed confidence in Marc Benioff’s ability to deliver on the long-term targets.
- Salesforce reported Q2 FY2026 revenue of $10.2 billion, up 10% year over year, with subscription and support revenue at $9.7 billion.
- AI traction accelerated, with Data Cloud and AI annualized recurring revenue surpassing $1.2 billion (up 120%) and Agentforce securing more than 12,500 deals.
- Capital returns strengthened with $2.6 billion repurchased in Q2 and a $20 billion program expansion, as internal Agentforce usage processed over 1.4 million support requests with a 77% resolution rate and a near-40% reduction in support headcount.