- CRM slid about 6% today, weighing on the Dow as software and megacap peers also retreated. [1]
- Street consensus 12‑month target sits near $325, with ratings skewed to “Buy,” but targets range widely from $221 to $430. [2]
- Options flow earlier this week was mixed (put/call ≈ 0.7; IV30 ≈ 43), signaling tepid bullishness but elevated near‑term volatility. [3]
- Next catalyst: Salesforce will report Q3 FY26 after the bell on Dec. 3 and host a 5 p.m. ET call. [4]
- Longer‑term: Management recently guided to >$60B in FY2030 revenue (ex‑Informatica impact), underscoring the AI push. [5]
What happened today
Salesforce shares fell roughly 6–7% intraday on Thursday, Nov. 6, extending this week’s softness across enterprise software. The drop was hefty enough to rank among the largest decliners in the Dow, alongside Amazon, contributing significantly to the index’s pullback. [6]
Traders point to a light news tape ahead of earnings and continued sector rotation as key drivers. The next hard data point arrives Dec. 3 when Salesforce posts Q3 FY26 results after the close and fields investor questions on the 5:00 p.m. ET call. [7]
What Wall Street is saying right now
Freshly compiled Street data show a “Moderate Buy” consensus on Salesforce drawn from 39 analysts: 25 Buys, 13 Holds, 1 Sell. The average 12‑month target is $325.23, implying notable upside from today’s levels, but dispersion is wide—lows near $221 and highs up at $430—reflecting debate about AI monetization and growth durability. [8]
Recent single‑firm calls echo that spread: BMO reiterated Outperform with a $280 target, while other shops anchored targets anywhere from the mid‑$200s to the upper‑$300s following Salesforce’s analyst day and long‑term guide. [9]
Options market snapshot (this week)
Options activity mid‑week registered as mixed: around 24k contracts traded with a put/call ratio ≈ 0.7 (calls leading puts), IV30 near 43 (top‑quartile of the past year), and an implied daily move ≈ $6.90. Translation: positioning leaned mildly bullish, but options pricing still assumed elevated day‑to‑day swings. [10]
The next catalyst: Q3 FY26 on Dec. 3
Salesforce confirmed it will release results on Wednesday, Dec. 3, after market close, followed by a 2:00 p.m. PT / 5:00 p.m. ET webcast. With shares under pressure, the setup puts more weight on net‑new AI bookings, Data Cloud momentum, Agentforce adoption, and any updated FY26 margin/FCF commentary. [11]
Big‑picture context: AI roadmap and 2030 targets
Into Dreamforce and fall investor events, Salesforce projected FY2030 revenue of “over $60 billion,” ahead of the Street’s prior models and excluding any impact from the pending $8B Informatica deal—framing data + AI as core growth layers over the back half of the decade. [12]
Independent models & what they imply
Outside the traditional broker framework, a recent 24/7 Wall St. model pegs year‑end 2025 fair value around $302 and a 2030 scenario near $494 if growth and product execution track to plan—illustrating how sensitive long‑dated outcomes are to adoption curves and margins. Treat these as directional—not deterministic—inputs. [13]
What to watch into December
- Revenue mix & backlog: Signs that Data Cloud and Agentforce are translating to ARR growth (and not just pilots).
- Margins & FCF discipline: Whether cost controls support operating margin resilience despite heavier AI R&D.
- Deal commentary: Any updates on the Informatica acquisition timeline and go‑to‑market synergies. [14]
Quick FAQ
When is Salesforce’s next earnings report?
Dec. 3, 2025 (after market close); the earnings call starts at 5:00 p.m. ET. [15]
What’s the average analyst price target for CRM right now?
About $325 over 12 months, based on 39 analysts (25 Buy / 13 Hold / 1 Sell). High: $430; Low: $221. [16]
What are options signaling this week?
A mixed stance—calls outpaced puts (put/call ≈ 0.7), but IV30 ≈ 43 keeps implied swings elevated. [17]
What’s the longer‑term growth story?
Management is targeting >$60B revenue in FY2030, anchored by AI features layered across the platform; the forecast excludes Informatica’s contribution. [18]
This article is for informational purposes only and is not investment advice.
References
1. www.marketwatch.com, 2. www.marketbeat.com, 3. www.tipranks.com, 4. investor.salesforce.com, 5. www.reuters.com, 6. www.marketwatch.com, 7. investor.salesforce.com, 8. www.marketbeat.com, 9. www.investing.com, 10. www.tipranks.com, 11. investor.salesforce.com, 12. www.reuters.com, 13. 247wallst.com, 14. www.reuters.com, 15. investor.salesforce.com, 16. www.marketbeat.com, 17. www.tipranks.com, 18. www.reuters.com
