Salesforce's AIforce Offering has Potential to Drive Usage but Price Point is Too High, UBS Says

12:21 PM EDT, 09/18/2026 (MT Newswires) -- Salesforce's (CRM) new AIforce offering has the potential to drive usage, but its price point is too high to drive material near-term traction, UBS Securities said in a note emailed Friday, following the company's big Dreamforce conference in San Fransisco. UBS said it remains constructive on Salesforce's initiatives to improve higher core CRM usage by integrating AI models as new front-end interfaces. This "headless" model seems inevitable, as other firms will follow suit, and anything that improves the customer user experience is a net positive, the firm added. However, the monetization plan keeps the brokerage cautious, according to the note. The firm said it will be difficult to motivate budget-constrained customers to upgrade to the AIforce Max SKU at $550 per seat per month or to buy a new $65 to $75 seat bundle, in addition to paying the large language model provider. UBS and other investors were not expecting Salesforce to raise the fiscal 2030 revenue target of $63 billion, and the company did not, as it requires a 3-year compound annual growth rate of nearly 10.5%. The company sounded very positive on new bookings and the stock keeping unit upgrade trends, the note added. The brokerage lowered its fiscal 2028 revenue growth estimate, as it now believes the path to fiscal 2030 will not be linear and will be more weighted toward fiscal 2029 and 2030, according to the note. UBS kept a neutral rating on Salesforce and raised its price target to $260 from $240. Price: 240.13, Change: -2.72, Percent Change: -1.12