Salesforce Shares Plummet After Revised Revenue Outlook

Salesforce shares took a hit on Thursday, falling over 3% after the software giant revised its fiscal 2027 revenue outlook to the high end of its previous range.

The update may have disappointed some investors who were expecting an even larger increase in revenue projections. However, analysts from J.P. Morgan remained optimistic following Salesforce's investor day event.

J.P. Morgan analyst Samik Chatterjee maintained a Buy rating and $265 price forecast for the company by December 2027.

Chatterjee highlighted the growing potential of AI monetization opportunities, premium upgrades, and increased spending among Agentforce customers. He noted that Salesforce's top 100 Agentforce customers generated more than twice their annual recurring revenue within 18 months of launch, with premium license ARR exceeding $1 billion.

The company reaffirmed its target for over $63 billion in fiscal 2030 revenue, with management stating that organic growth remains on track to accelerate in the second half of fiscal 2027 and beyond. J.P. Morgan also emphasized Salesforce's traction among AI-native companies, citing nine out of ten top AI companies using the platform.