RBC Says Salesforce’s Agentforce Push Is Early, but Customer and License Trends Look Stable

Salesforce is facing the typical adoption arc for enterprise AI software, with a major Wall Street analyst arguing that its Agentforce initiative is still early-stage even as momentum builds. In a note discussed this week by RBC Capital Markets, the bank kept Salesforce at “Sector Perform” and highlighted that stable customer and license activity appears to be cushioning the transition toward AI-driven workflows.

RBC said it reached that view after attending the firm’s Connections conference in recent days. The analyst, identified as Rishi Jaluria in a syndicated report, left the rating at “Sector Perform” with a $210 price target. RBC’s early takeaway, as described in the same report, was that the Agentforce platform’s introduction was still in its early innings, while conversations suggested generally stable customer and license numbers.

A separate syndicated report tied to the same RBC commentary carried the headline that Salesforce’s core business was “holding steady” as Agentforce adoption “builds,” underscoring the market’s focus on whether the company’s traditional CRM subscription engine can remain resilient during the AI upgrade cycle. The report itself was not fully accessible, so the key figures and deeper arguments are not available publicly from that write-up.

What Agentforce represents helps explain the sequencing RBC is pointing to. Salesforce describes Agentforce as an “agentic” AI approach aimed at moving beyond reactive assistance toward autonomous, proactive actions inside enterprise systems. In February 2026, Salesforce said more than 180 organizations had selected Agentforce IT Service, after it launched into general availability and began targeting IT Service Management (ITSM) workflows.

In that Salesforce announcement, Agentforce IT Service was positioned as a unified, Slack-first and Microsoft Teams-ready platform where humans and autonomous agents work collaboratively. Salesforce said the product is built natively on the Salesforce platform, with capabilities meant to shift ITSM from manual ticket handling toward autonomous, proactive resolution, including a configuration management database (CMDB) used to understand IT environments.

RBC’s “early” characterization of Agentforce adoption fits that broader enterprise reality. Even when pilots and early deployments look promising, companies often take time to move agents from limited proofs of concept into reliable production workflows. The operational lift includes process redesign, security controls, data readiness, and governance over what an agent is allowed to do. Salesforce’s own framing of Agentforce IT Service emphasized faster time-to-production than legacy ITSM projects, but the market still appears to be watching for evidence that broad deployments translate into durable expansion of customer usage and licensing.

What’s missing from the publicly available reporting is clarity on timing and measurable outcomes. The RBC commentary described stable customer and license trends and called Agentforce early, but the syndicated posts do not disclose specific adoption rates, revenue contribution, or the expected pace for agent-driven workloads to show up in financial results. Salesforce also did not provide a more current, consolidated Agentforce adoption metric in the accessible materials here, so investors will likely need to wait for the company’s next earnings cycle for tighter disclosure.