Key Takeaways
- Salesforce stock is down 8% over the past year, closing at $225 on September 29.
- The stock slid to a June trough near $150, then jumped after Q2 results on August 26: revenue of $11.35B (+11% YoY), cRPO of $33.5B (+14%), and FY27 revenue guidance raised to $46.1B-$46.4B.
- Analysts rate the stock 32 buys, 6 outperforms, 15 holds and 2 underperforms, and the $281 mean target sits 25% above the close, down from $351 a year ago.
Salesforce stock fell to $150 before rebounding to $225. Analyze CRM on TIKR for free →
Why Salesforce Stock Is Down 8% Over the Past Year Despite a Strong Q2
Salesforce (CRM) stock closed at $225 on September 29, down 8% over the past year after falling from $260 in October to a trough near $150 in June, then climbing back to $260 by early September.
The slide was a verdict on AI. Investors spent 2026 pricing in the SaaSpocalypse, the fear that models like Claude replace enterprise software, and Salesforce stock lost 29% between its October 31 close and its July 31 close.
CEO Marc Benioff went straight at that fear on the Q2 call: “We’ve been hearing about this for the last 2 quarters, these dire predictions about the end of software and how the models eat everything.” The results backed him, and the stock ran from $184 to $260.
The rally did not hold. Director Craig Conway sold 4,500 shares at $260.50 on September 4, and the stock has since fallen $35. Deputy CFO Mike Spencer put second-half growth at 7% to 9% on August 27, and license revenue remains a headwind. Reacceleration is guided, not delivered.
A September 21 filing showed director David Kirk bought $999,455 of stock at $239.33, and the price now sits $14 below that.
Salesforce stock is down 8% because the market still treats 11% growth as a business AI could erode, not one AI is feeding.
Check the Q2 revenue and cRPO figures behind the rebound. Pull up CRM financials on TIKR for free →
Analysts Still See 25% Upside in Salesforce Stock, but Targets Have Fallen 20%
Analysts rate Salesforce stock 32 buys, 6 outperforms, 15 holds and 2 underperforms. Separately, 53 analysts publish a price target, and the $281 mean sits 25% above the $225 close.
A year ago the mean target stood at $351 against a $258 close, a 36% gap. The Street cut it to $242 by July 31, then lifted it to $281 after the Q2 report. Buys slipped from 35 to 32 while holds climbed from 10 to 15, and the lowest target dropped to $160.
The Street trimmed $70 off the mean target and added five holds, yet buys and outperforms still total 38. Analysts are debating how fast Salesforce grows, not whether it survives.
See whether the $281 mean target keeps falling. Track CRM analyst targets on TIKR for free →
So what is CRM stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
