What Analysts Think of Salesforce Stock Ahead of Earnings

Salesforce is expected to report fiscal first-quarter revenue of $9.75 billion, a 7% year-over-year increase, and adjusted EPS of $2.55. Analyst sentiment is largely positive, with a consensus price target of $364, suggesting 33% upside; Oppenheimer analysts cite "strong momentum" in Salesforce's AI platform, Agentforce, while Citi analysts await further data on its commercialization, reflecting mixed sentiment on the AI offering's near-term impact.

Analysis

Salesforce (CRM) is poised to release its fiscal first-quarter results post-market on Wednesday, with consensus expectations pointing to revenue of $9.75 billion, representing a 7% year-over-year increase, and adjusted earnings per share of $2.55, up from $2.44 in the prior year. Analyst sentiment is predominantly bullish, as evidenced by 18 out of 23 Visible Alpha-tracked analysts maintaining a "buy" or equivalent rating, with a consensus price target of approximately $364 suggesting a significant 33% potential upside from its recent closing price, despite the stock's approximate 18% decline year-to-date in 2025. Oppenheimer analysts highlight Salesforce as "one of the healthiest long-term profitable growth stories" in software, citing "strong momentum" in its AI platform, Agentforce, and maintaining a $380 price target. However, sentiment regarding Agentforce's immediate commercial impact is not universally aligned; Citi analysts have adopted a more cautious stance, reducing their price target to $320 from $335, as they "await more meaningful data points" on the AI offering's monetization. Other notable targets include Deutsche Bank's bullish $400 and Jefferies' $375, reflecting a generally positive outlook tempered by some wait-and-see approaches regarding new product contributions amidst acknowledged macro uncertainty.

Key Decisions for Investors

• Investors should closely monitor Salesforce's upcoming earnings report for commentary on Agentforce's commercialization progress and any revisions to guidance, as these will be key catalysts given the mixed analyst views on the AI platform's near-term impact.
• Despite the stock's recent underperformance, the strong consensus buy ratings and significant upside implied by the average price target suggest potential for recovery, contingent on positive earnings and clear AI strategy execution.
• Consider the divergence in analyst price targets (ranging from $320 to $400) as indicative of varying expectations for AI monetization speed and impact; therefore, scrutinize management's narrative on Agentforce adoption and revenue contribution to assess the conviction behind more bullish outlooks.