Salesforce Stock Price Tumbles Amid Mixed Earnings News
Salesforce's stock price took a hit on Wednesday, plummeting by 2% during mid-day trading. The CRM provider's shares traded as low as $249.60 before rebounding to $250.63, with over 9 million shares changing hands.
This decline comes amidst a week of mixed news for Salesforce. While the company received several analyst upgrades and positive sentiment around its AI product momentum, it also faced criticism over service disruptions during Dreamforce. Analyst Mizuho raised its price target from $265 to $280, citing a more favorable 2026 setup following the event.
Several analysts have expressed concerns about Salesforce's elevated valuation and slow free-cash-flow growth. However, some experts argue that the company's $25 billion share-repurchase program is attractive and that issues weighing on investor sentiment have largely passed. Despite these mixed signals, Salesforce's stock has a strong recent earnings record, with 11% year-over-year revenue growth.