Salesforce Shares Plunge 2.7%, Analysts Still Bullish on Future Prospects
Shares of Salesforce (NYSE:CRM) fell by 2.7% during Friday's mid-day trading session, reaching as low as $195.32 and closing at $195.8590. A total of 8,229,490 shares were traded, representing a decline of 40% from the average daily volume of 13,679,818 shares.
Despite this drop, analysts remain optimistic about the company's prospects. JPMorgan recently resumed coverage with an Overweight rating and a $250 price target, citing potential acceleration in Salesforce’s core business during the second half of the year. Monness Crespi & Hardt also raised its price target to $222 from $200 and maintained a Buy rating.
Additionally, Salesforce's planned $27.1 billion share-repurchase program is expected to support earnings-per-share growth and provide valuation support. The company's rising Agentforce adoption has positioned it as a significant enterprise 'agentic AI' competitor to Microsoft and Oracle, potentially creating a new growth avenue from its large CRM customer base.