Meta’s Salesforce Exec Hire To Lead New AI Unit Makes Analyst 'Bullish', Adds To Retail Optimism

Shares of Meta Platforms, Inc. ($META) traded slightly lower Wednesday afternoon, even as retail investor attention remained strong following two consecutive sessions of gains. 

Jefferies reiterated its ‘Buy’ rating and $675 price target, citing Meta as a “Top AI winner” among tech giants.

The upbeat outlook comes after Meta appointed Clara Shih, previously Salesforce ($CRM) CEO of AI, to lead its newly formed Business AI group. 

In a LinkedIn post, Shih outlined her vision to make advanced AI accessible to businesses, enabling them to thrive in the AI era. 

Jefferies praised the move as a “big step forward” for Meta’s enterprise AI ambitions, highlighting Shih’s success with Salesforce’s Agentforce as a valuable asset.

The brokerage thinks Shih’s experience at CRM building Agentforce will benefit Meta's efforts to build Gen AI tools and agents for the more than 200 million businesses that leverage WhatsApp, Instagram and Facebook each month. 

While details remain sparse, TechCrunch speculates these tools could focus on generating AI-driven ad content and enhancing creator engagement.

META sentiment and message volume on Nov 20 as of 1:45 pm ET | source: Stocktwits

Retail investors on Stocktwits were ‘bullish’ on Meta, with message volume in ‘high’ level. 

Discussions on the platform were also tied to the broader influence of AI leader Nvidia, whose earnings are set to release after the market close.

Meta’s stock has soared over 60% in 2024, driven by investor enthusiasm for its shift from augmented reality to artificial intelligence. 

The company has highlighted how AI has enhanced user experiences on Instagram and Reels, boosting daily active users, which in turn attracts more ad revenue. 

Retail chatter surrounding Meta has nearly doubled this year, reflecting sustained interest in its AI-driven growth strategy.