Salesforce, Inc. (CRM) price target was raised by BofA to $440 on Agentforce-driven growth and efficiency

We recently compiled a list of the 10 AI news investors shouldn’t miss. In this article, we’ll take a look at where Salesforce, Inc. (NYSE:CRM) stands compared to the other AI stocks that investors shouldn’t miss.

During an appearance on CNBC’s Squawk Box Europe, Appian CEO Matt Calkins discussed the outlook for the artificial intelligence industry and regulation in the United States with soon-to-be president Donald Trump.

When asked if there was a bit of a gold rush when it came to AI, Calkins agreed. He said AI raises significant concerns, particularly among CEOs. This is because AI has the potential to embarrass companies or compromise sensitive data, leading to hesitation. “We are all looking for a safe way to take the first step with AI,” he said.

NOW READ: 15 AI news stories investors shouldn’t miss and 15 booming AI stocks making headlines

Regarding whether companies are panicking about using AI for profit, Calkins noted that while big tech companies are investing aggressively, most companies are proceeding cautiously. “It’s a calculated risk and they should take it,” he said, contrasting this with the reluctance of smaller companies.

When it comes to regulation, Calkins revealed that the bottom line is that AI can be dangerous if misused, which underlines the importance of regulatory frameworks. He pointed to Europe’s AI law as an example, explaining that regulation could focus on restricting the use of AI or limiting the types of data it can access.

With the Trump administration taking office, Calkins predicted a strong focus on competing with China in technology. He also mentioned Elon Musk’s influence on Trump and stated that Musk’s influence on the Trump administration was positive because he was well versed in artificial intelligence.

In other recent news, Sam Altman has announced a special event called “12 Days of OpenAI.” Altman will unveil a new model or feature every weekday for two weeks, Altman posted on X, formerly Twitter. New models and features that users have predicted include the AI ​​video generator Sora, the full version of the “o1” reasoning model, and greater control over ChatGPT’s Advanced Voice feature.

“Every weekday we will host a livestream with a launch or demo, some big items and some interesting items.”

Since OpenAI appears to be in the holiday spirit, the series of reveals will be broadcast live beginning December 5th and continuing over the next twelve weekdays. It looks like a very merry Christmas for all the tech fans.

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For this article, we selected AI stocks by reviewing news articles, stock analysis and press releases. These stocks are also popular with hedge funds.

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A customer service team in an office environment uses the company’s Customer 360 platform to communicate with customers.

Number of hedge fund owners: 116

Salesforce Inc (NYSE:CRM) is a cloud-based CRM company that has gained traction after launching its AI-powered platform called Agentforce. On Dec. 5, BofA analyst Brad Sills increased the company’s price target on Salesforce (NYSE:CRM) from $390 to $440 and maintained a Buy rating on the stock. The company’s good growth prospects and efficiency led to this rating.

The company’s strong Q3 results reflect the successful launch of Agentforce, its artificial intelligence platform, and allowed the company to demonstrate its leadership in the agent AI cycle. The introduction not only piqued customer interest, but also strengthened the central sales and service clouds. Strategic initiatives such as the integration of Agentforce into 200 deals just shortly after publication demonstrate the company’s growth potential. The company’s third quarter operating margin of 33.1% exceeded expectations due to optimized sales and internal use of Agentforce. With a good outlook for the fourth quarter and initial business successes, Salesforce is well positioned for further growth and profitability, which leads to a buy recommendation.

Total CRM takes 3rd place on our list of AI stocks that investors shouldn’t miss. While we recognize CRM’s potential as an investment, we believe some AI stocks are more promising for generating higher returns, and within a shorter time frame. If you’re looking for an AI stock that has more promise than CRM but trades at less than five times earnings, check out our report on it cheapest AI stock.

READ MORE: The 8 Best Wide Moat Stocks to Buy Now and the Top 30 AI Stocks According to BlackRock.

Disclosure: None. This article was originally published on Insider Monkey.