• In April 2026, Unisys and Engine each announced expanded use of Salesforce’s Agentforce 360 platform, while Salesforce and Google Cloud agreed to deepen integrations that connect AI agents across Slack, Google Workspace, and core enterprise data without moving it.
• Together, these moves highlight how Salesforce is embedding “agentic” AI into large-scale field services, travel operations, and productivity tools, positioning its platform at the center of AI-driven enterprise workflows.
• Next, we’ll examine how this expanded Agentforce usage and the Google Cloud partnership influence Salesforce’s existing investment narrative.

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Salesforce Investment Narrative Recap

To own Salesforce today, you have to believe its pivot from traditional CRM to AI agents and Data Cloud can still support profitable growth, even as software valuations reset and AI competition intensifies. The latest Agentforce wins and the deeper Google Cloud tie up reinforce the near term catalyst of AI driven expansion within the existing customer base. They do not meaningfully reduce the key risk that AI native and bundled rivals could compress pricing power and slow growth.

Among the recent news, the expanded Salesforce and Google Cloud partnership looks most relevant. By letting AI agents work across Slack, Google Workspace and enterprise data in place, it directly supports the catalyst that Agentforce and Data 360 can increase contract sizes and stickiness. At the same time, it highlights the competitive risk: hyperscalers like Google are also central to the workflow, which could constrain Salesforce’s long term bargaining power if customer preferences shift.

Yet beneath this AI momentum, investors should stay alert to how growing AI native competition could still pressure Salesforce’s pricing power and long term margins...

Salesforce’s narrative projects $51.9 billion revenue and $10.3 billion earnings by 2028. This requires 9.6% yearly revenue growth and about a $3.6 billion earnings increase from $6.7 billion today.

Uncover how Salesforce's forecasts yield a $317.21 fair value, a 78% upside to its current price.

Exploring Other Perspectives

Some of the lowest ranked analysts were far more cautious, assuming Salesforce revenue of about US$52.5 billion and earnings of roughly US$9.7 billion by 2029, and seeing AI native rivals as a real threat, so it is worth weighing these more pessimistic views against the recent Agentforce and Google Cloud news before you decide which story you believe.

Explore 37 other fair value estimates on Salesforce - why the stock might be worth as much as 93% more than the current price!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Salesforce research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free Salesforce research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Salesforce's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.