Overview
- The stock has tumbled about 43% year-to-date and traded near a 52-week low after a record 13-session losing streak that extended through late June, reflecting sharply weaker market sentiment.
- Investors have pinned the selloff on worries that AI coding agents could let customers build their own tooling and bypass platforms like Salesforce’s Agentforce, a dynamic some coverage calls the “SaaSpocalypse.”
- Salesforce moved to respond in mid-June with a $3.6 billion all-cash purchase of AI customer-support firm Fin and an expanded Databricks partnership to speed deployment of agent and data capabilities, but those steps did not stop the share decline.
- The company’s latest quarter showed an adjusted EPS beat and revenue growth while the fiscal-year revenue midpoint landed slightly below Street expectations, and prior large buybacks of about $27 billion have raised questions about cash flexibility as M&A continues.
- Wall Street remains largely positive on the stock with a FactSet consensus target well above current levels and fresh upgrades such as Monness Crespi’s to Buy, leaving the near-term outlook dependent on customer adoption and monetization of agent products.