Salesforce Inc (NYSE:CRM) analysts mostly maintain their ratings and price targets, with some figures lowered, after the company reported first-quarter financial results on Wednesday.
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The Salesforce Analysts
DA Davidson analyst Gil Luria maintained a Neutral rating on Salesforce and lowered the price target from $200 to $175.
BofA Securities analyst Tal Liani reiterated an Underperform rating with a price target of $160.
KeyBanc analyst Jackson Ader maintained an Overweight rating and lowered the price target from $300 to $290.
Guggenheim analyst John DiFucci maintained a Neutral rating with no price target.
Citizens analyst Patrick Walravens maintained a Market Outperform rating with a price target of $315.
Wedbush analyst Dan Ives maintained an Outperform rating with a price target of $325.
Cantor Fitzgerald analyst Matthew VanVliet maintained an Overweight rating with a price target of $250.
DA Davidson on Salesforce
With low expectations for the quarter, results and guidance still disappointed bulls, Luria said in a new investor note.
"Agentforce momentum was an area of strength," Luria said.
Luria said this was a "solid start to the year" for Salesforce. The analyst said updated guidance keeps expectations for growth in check.
Bank of America on Salesforce
Liani said the first-quarter results were largely "uninspiring" and the "trends remain underwhelming" for Salesforce.
"Focus remains on decelerating revenue," Liani said.
The analyst said that growth was muted in the quarter and risks from competitors continue to rise.
KeyBanc on Salesforce
The first quarter results and guidance were "just fine" to start the year, Ader said in a new investor note.
"The AI metrics and usage statistics were impressive," Ader said.
The analyst highlighted the company's Agentforce growth in the quarter with more growth expected in the second half of the year.
Guggenheim on Salesforce
First quarter results did "nothing to dispel the AI threat narrative," DiFucci said in a new investor note.
The analyst said management expectations for accelerated growth in the second half look tough.
"We continue to believe that CRM, like many application companies, still has little to show for in terms of material incremental AI revenue as reflected in its overall growth rates," DiFuccci said.
Citizens on Salesforce
Agentforce hitting an annual run rate of $1.2 billion was a highlight in the quarter for Walravens.
The analyst said guidance was mixed, an item that may have hurt investor bullishness.
"While investors worry about platform abstraction risk as Salesforce opens its systems and that the second half reacceleration might not be durable, we continue to like this story for several key reasons," Walravens said.
The analyst highlighted Agentforce's growth, strong customer usage, strong margins alongside revenue growth, expectations for the second half, a $50 billion buyback and the management lineup as key reasons to like the company.
Wedbush on Salesforce
Ives called the results for Agentforce in the quarter "solid" and highlighted the company being on track to accelerate its organic growth in the second half in a new investor note.
"We anticipate a growth inflection in FY27 on the back of Agentforce and Data Cloud," Ives said.
The analyst said Agentforce has momentum "with a strong pipeline" for the second half of the year.
Cantor Fitzgerald on Salesforce
The first-quarter results may have been a non-event unlikely to change the opinion of investors, VanVliet said in a new investor note.
"Given the lack of meaningful bookings/cRPO beats this quarter, investors are left having to trust management that the F2H acceleration is around the corner," VanVliet said.
The analyst said the stock could face pressure until the next quarterly results.
Salesforce Stock Price Action
Salesforce stock is up 1.26% to $179.75 on Thursday versus a 52-week trading range of $163.52 to $276.80. Salesforce stock is down 32.15% year-to-date in 2026.
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