Salesforce's Agentic AI Thesis Gains Traction Despite Slowing Market

Investor Andrey Popov is sticking to his guns when it comes to Salesforce (NYSE:CRM), citing its strong financials and growing adoption of agentic AI. Despite being down 20.67% year-to-date, Popov sees the company's fundamentals improving as it expands its application layer presence.

The latest quarterly results for Q1 FY27, which were reported on May 27, 2026, showed revenue landing at $11.133 billion, up 13.27% year over year. Earnings per share (EPS) came in at $3.88 against a consensus estimate of $3.1271, marking the fifth consecutive quarter exceeding expectations.

Agentforce ARR reached $1.2 billion, up 205% year-over-year, with more than 50% of bookings coming from existing customers expanding commitments. This land-and-expand motion is a key indicator for Popov that Salesforce's agentic AI thesis is gaining traction.