Quick Read
CRM fell 38% in 2026, yet Agentforce ARR surged 205%, and a $25 billion buyback retired 103 million shares, supporting a $245 price target.
NOW’s 22% subscription growth makes CRM’s forward P/E of 13 look cheap, while MNDY’s 20% workforce cut confirms AI is reshaping the sector.
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Salesforce (NYSE:CRM) is a buy. The 24/7 Wall St. price target is $245.23, implying 55.73% upside from $157.47. Confidence is high at 90%, driven by accelerating Agentforce, a re-rated multiple that has absorbed most negative news, and $27.5 billion returned to shareholders in a single quarter.
24/7 Wall St. Price Target Summary
A Brutal Year Meets a Booming AI Business
Salesforce has been punished in 2026. The stock is down 38.15% year to date and 37.63% over the last year, sitting 11% below the 52-week high of $271.70.
Yet the operating story keeps improving. Q1 FY27 delivered EPS of $3.88 versus a $3.13 estimate, a 24.08% beat and the fifth consecutive quarter above consensus. Revenue hit $11.13 billion, up 13.3% year over year.
Agentforce ARR reached $1.2 billion, up 205% YoY, and combined Agentforce plus Data 360 ARR touched nearly $3.40 billion. Recent coverage flags U.S. small businesses canceling subscriptions to build AI tools in-house, and an IBM warning about budget rotation toward AI infrastructure hit CRM specifically.
The Case for $286 and Above
Bulls have ammunition. Salesforce processed 28.6 trillion tokens in the quarter, up 152% Q/Q, and cRPO of $33.6 billion grew 14%, signaling durable forward revenue. Management raised FY27 guidance to $45.90 to $46.20 billion in revenue and reiterated the FY30 revenue target of $63 billion.
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The $25 billion accelerated share repurchase retired 103 million shares upfront, materially boosting per-share math. Our bull case scenario points to $286.49, an 81.93% return. Analyst mean target sits at $241.72, with 40 Buy or Strong Buy ratings versus only 2 Strong Sells.
What Could Go Wrong
The bear case rests on AI monetization timing and SMB churn. Reports of small business customers building in-house AI alternatives raise questions about seat-based pricing durability. Total liabilities rose materially after the $25B debt issuance, adding interest expense pressure.
