Salesforce Stock Drops Amid AI Concerns Despite Raised Price Targets

Salesforce's share price dropped 2.2% on Friday, reaching as low as $236.55 and last trading at $237.56.

This decline comes despite positive sentiment surrounding the company's fiscal 2030 revenue target of over $63 billion, which has eased concerns about generative AI disrupting its core customer-relationship software business.

Several analysts raised their price targets for Salesforce, with Stifel increasing its target from $275 to $300 and Guggenheim lifting its target from $270 to $300.

However, some analysts expressed caution about the company's ability to convert AI interest into near-term revenue, and concerns over pricing and customer adoption also weighed on the stock.