Salesforce Selloff Draws Fresh Buy Calls as AI Debate Escalates

Overview

• Salesforce shares are down about 41% over the past year and roughly 25% year to date, reflecting the broader software slump.
• Oppenheimer and Stifel reaffirmed Buy ratings with price targets near $300 in early February, and on February 9 Morgan Stanley labeled the pullback a buy opportunity, arguing incumbents can benefit from generative AI.
• Piper Sandler maintained an Outperform view while cautioning that AI-driven self-coding and potential seat compression pose risks to Salesforce’s model.
• A recent Seeking Alpha analysis reports Agentforce is gaining traction, citing about $550 million in ARR and roughly 18,000 customers with a growing consumption flywheel.
• Supportive commentary also highlights scale and contracts, noting gross profit margins near 78%, about $40.3 billion in trailing revenue, and a 10-year, $5.6 billion U.S. Army deal disclosed on January 26.