Salesforce's (CRM) recent results are a "step in the right direction," with its Agentforce strategy building gradual growth and a strong pipeline of business opportunities in sight, Wedbush said in a Thursday note.

The company posted a significant earnings beat in Q3 as it continues to invest aggressively in its Agentforce strategy, Wedbush analysts said. They observed that more customers are using the AI-powered Salesforce platform, as seen in the 3.2 trillion tokens processed in its large language model gateway, including 540 billion in October, up 25% from a month ago.

Agentforce is continuing to gain traction, with the company closing 9,500 deals in the quarter, driving $540 million in Agentforce annual recurring revenue, up 330% from a year ago, the analysts said. Further, roughly 90% of Forbes' top 50 AI companies are running on Salesforce with an average of four clouds, according to the note.

The company's Q4 revenue guidance beat analysts' predictions, while EPS guidance matched expectations, the analysts said. Salesforce needs to continue balancing growth initiative investments with continuing to increase earnings in the coming quarters, the analysts said.

Wedbush maintained the company's stock rating at outperform and price target at $375.

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