Salesforce, Inc. (NYSE: CRM) is edging higher in Friday’s session, with investors repositioning ahead of next week’s earnings report while digesting fresh headlines on AI, cybersecurity and the recently completed Informatica acquisition. [1]
Salesforce (CRM) stock price today
As of the latest available data on Friday, November 28, 2025, Salesforce stock is trading around $231 per share, up roughly 1–2% from Wednesday’s close near $228.15. [2]
Intraday, CRM has been changing hands between roughly $228 and $233, on volume of about 2.4 million shares, which is running below its recent one‑month average of just over 7 million shares. [3]
In context:
- 52‑week range: about $221.96–$369.00
- Current level vs. 52‑week low: only a few percent above the low set last week
- Current level vs. 52‑week high: still more than 35% below the high from December 2024
- Performance: down roughly 10–11% over the last month, about 33% over the past 12 months, and more than 30% year‑to‑date. [4]
That slump has come even as Salesforce remains a heavyweight in the Dow Jones Industrial Average, where each dollar move in CRM meaningfully sways the index. [5] A MarketWatch snapshot today highlighted Salesforce among the key gainers helping lift the Dow by around 0.5%. [6]
2025 has been a bruising year for Salesforce stock
Today’s modest bounce comes after months of pressure on the stock. Several overlapping themes have weighed on sentiment in 2025:
1. Slower growth and cautious guidance
In early September, Salesforce issued Q3 FY26 revenue guidance of $10.24–$10.29 billion, implying 8–9% year‑over‑year growth – solid, but below what many investors had hoped for from a flagship AI name. [7]
Reuters noted that the outlook contributed to a sharp sell‑off at the time, as management acknowledged “delayed returns” on heavy AI investments and a more guarded enterprise spending environment. [8]
2. Valuation vs. growth
Even after the drawdown, Salesforce still trades at roughly a low‑30s multiple of trailing earnings, with a market capitalisation north of $200 billion. [9] With revenue growing in the high single digits and the stock down more than 30% YTD, investors are wrestling with whether CRM is:
- A discounted AI blue‑chip with improving margins, or
- A value trap, if AI fails to meaningfully re‑accelerate growth. [10]
3. AI optimism vs. execution risk
Salesforce has leaned heavily into its Agentforce and Data Cloud strategy:
- Data Cloud & AI annual recurring revenue (ARR) is now over $1.2 billion, growing about 120% year‑over‑year.
- Since launching Agentforce, Salesforce has closed more than 12,500 deals, over 6,000 of them paid, including more than 60 deals above $1 million that bundle Data Cloud and AI. [11]
Those numbers demonstrate real traction, but growth investors want to see whether this momentum is enough to offset slower core CRM growth and justify a premium multiple. [12]
4. Cybersecurity and the Gainsight incident
November brought a new overhang: OAuth‑based breaches involving Gainsight‑published applications connected to Salesforce.
- Salesforce disclosed “unusual activity” related to Gainsight apps and said the activity may have enabled unauthorized access to some customers’ Salesforce data. [13]
- As a precaution, the company revoked all access and refresh tokens for affected apps and temporarily removed Gainsight apps from the AppExchange, stressing that there is no evidence of a vulnerability in Salesforce’s core platform. [14]
- Security researchers and Google’s Threat Intelligence Group estimate that hundreds of organizations may be touched by the broader campaign targeting OAuth tokens in Salesforce ecosystems. [15]
So far, the incident looks more like a SaaS supply‑chain breach than a core‑platform flaw, but it underlines how Salesforce’s vast integration network has become part of its risk profile.
AI, Agentforce and Informatica: Salesforce’s growth engine in focus
Despite the drawdown, the bullish case for CRM in late 2025 still revolves around owning the data and AI layer of enterprise customer relationships.
Data Cloud and Agentforce momentum
Salesforce’s latest reported quarter (Q2 FY26) underscored the importance of AI and data:
- Data Cloud & AI ARR: >$1.2 billion, +120% YoY
- AI & Data Cloud in big deals: Over 60 deals above $1 million included both Data Cloud and AI
- Agentforce has already processed more than 1.4 million support requests on Salesforce’s own help site. [16]
Management is explicitly pitching Agentforce as a “digital labor” solution tightly integrated with Customer 360, Data Cloud and Einstein AI – a way for enterprises to deploy task‑specific AI agents inside existing CRM and service workflows rather than juggling generic chatbots. [17]
Industry observers are watching closely. A detailed preview from SalesforceBen described the upcoming Q3 numbers as a “tipping point” for Agentforce, given the sector‑wide AI boom led by names like Nvidia, Palantir and ServiceNow. [18]
Informatica acquisition closes
On November 18, 2025, Salesforce completed its roughly $8 billion acquisition of Informatica, a specialist in AI‑powered cloud data management and integration. [19]
According to Salesforce, Informatica is expected to:
- Strengthen the Data Cloud/Data 360 stack with deeper data governance and quality tools
- Tighten integration between MuleSoft and Informatica to create a more unified data and integration fabric
- Feed richer, better‑governed data into Agentforce and Tableau, improving AI accuracy and analytics. TechStock²
Bulls see Informatica as a big swing at owning the data plumbing behind AI agents across complex enterprises. Bears worry about the price tag, integration risk and the possibility that customers may be reluctant to pay premium pricing for yet another data layer. [20]
Cyber Week data: early proof points for AI commerce
Salesforce’s own holiday‑shopping data offers an interesting near‑term catalyst:
- The company expects global Cyber Week sales to grow around 6% year‑over‑year to roughly $334 billion, with U.S. sales near $78 billion.
- Salesforce estimates AI agents will influence about $73 billion of online sales, or roughly one‑fifth of orders, driven by a triple‑digit percentage increase in AI‑assistant‑driven traffic. [21]
If those trends show up in Q3 and Q4 commentary around Commerce Cloud and Agentforce Commerce, they could help counter the narrative that Salesforce’s AI investments are not yet paying off.
And stepping back, Gartner estimates that global generative AI spending could reach about $644 billion in 2025, up more than 70% from last year – a reminder of the sheer size of the market Salesforce is chasing. [22]
Earnings preview: what to watch on December 3
Salesforce is scheduled to report Q3 FY26 results after the market close on Wednesday, December 3, 2025, followed by a conference call with management. [23]
Company guidance
From its September Q2 release, Salesforce’s own guidance for Q3 and the full year is: [24]
- Q3 FY26 revenue: $10.24–$10.29 billion (+8–9% YoY)
- Q3 non‑GAAP EPS: $2.84–$2.86
- Full‑year FY26 revenue: $41.1–$41.3 billion (+8.5–9% YoY)
- Full‑year non‑GAAP operating margin: ~34.1%
- Full‑year non‑GAAP EPS: $11.33–$11.37
In the prior quarter, Salesforce delivered revenue of about $10.24 billion (up 9.8% YoY) and non‑GAAP EPS of $2.91, beating consensus expectations, which sets a high bar for Q3. [25]
Wall Street expectations
Recent analyst previews largely line up with management’s guidance:
- Consensus Q3 EPS: about $2.85
- Consensus Q3 revenue: roughly $10.27 billion
- Q3 and FY26 EPS expectations are anchored close to management’s non‑GAAP guidance. [26]
Given the stock’s sharp rerating in 2025, investors are likely to focus less on minor beats or misses and more on commentary and guidance revision.
Key metrics and themes to watch
- Data Cloud & AI ARR growth
- Can Salesforce keep AI & Data Cloud ARR growing at or near triple‑digit rates, off a base already above $1.2 billion? [27]
- Agentforce adoption and pricing
- Look for updated numbers on paid Agentforce customers, large deals and attach rates to existing CRM and Service Cloud contracts. [28]
- Informatica integration and margins
- Any detail on revenue synergies, cross‑selling wins and the impact of Informatica on Salesforce’s mid‑30s non‑GAAP margin target will matter. [29]
- Security posture after the Gainsight incident
- Investors will want clear language on third‑party app security, OAuth token monitoring and any expected churn or remediation costs tied to the Gainsight and prior Drift incidents. [30]
- Updated FY26 (and beyond) outlook
- Salesforce’s long‑term ambitions include high‑30s to 40% margins and significantly higher revenue by decade’s end; any change to the FY26 trajectory (currently 8.5–9% growth and mid‑30s margins) will be scrutinized. [31]
Analyst ratings: cautious optimism after a 30%+ drawdown
Despite the rough year, Wall Street remains broadly positive on Salesforce:
- MarketBeat data shows a “Moderate Buy” consensus based on 39 analyst ratings
- 25 Buy
- 13 Hold
- 1 Sell
- The average 12‑month price target is about $322.86, implying roughly 40% upside from recent prices around $231–232.
- Targets range from about $221 on the low end to $430 on the high end. [32]
Some firms have trimmed targets but kept Overweight/Buy ratings, pointing to Salesforce’s strong cash generation and rising margins, even as they acknowledge risks around AI execution and security incidents. Seeking Alpha+3TechStock²+3Reuters+3
Others, including 24/7 Wall St., outline more aggressive multi‑year scenarios in which normalized EPS climbs into the low‑ to mid‑teens and the stock revisits or exceeds prior highs above $300 – but these projections depend heavily on sustained AI‑driven growth and continued margin expansion. [33]
What today’s move might mean for different types of investors
Today’s modest gain – with CRM trading just above recent lows – doesn’t, by itself, resolve the tug‑of‑war between bulls and bears, but it frames the setup heading into earnings.
For shorter‑term traders
- The stock is parked near its 52‑week low despite decent earnings beats and high‑profile AI announcements, which can create a “coiled spring” effect around major catalysts like the December 3 release. [34]
- At the same time, 2025 has shown that negative surprises on guidance or security can trigger large, sudden moves, especially given Salesforce’s role as a Dow component. [35]
Volatility around the report is likely to be elevated, so position sizing and risk management are crucial considerations.
For long‑term, fundamentals‑focused investors
Key questions to think through if you are evaluating Salesforce stock for a multi‑year horizon:
- Can AI re‑accelerate growth?
- Do you believe Salesforce can leverage Data Cloud, Agentforce and Informatica to push revenue growth back into double digits over the next few years? [36]
- Are you comfortable with the acquisition strategy?
- Recent moves like Informatica extend a long history of big deals (Slack, Tableau, MuleSoft). Are the integration and balance‑sheet risks acceptable for you? [37]
- How do you view security and platform risk?
- Salesforce’s core platform remains intact, but third‑party integrations have clearly become a target. Are you comfortable owning a company at the center of a complex SaaS ecosystem where attackers increasingly go after OAuth tokens and connected apps? [38]
- Does the valuation fit your expectations?
- You’re effectively paying a quality premium: high‑single‑digit to low‑double‑digit growth, mid‑30s non‑GAAP margins, and a low‑30s earnings multiple. Does that combination match your return and risk goals? [39]
Key takeaways on Salesforce stock today (November 28, 2025)
- CRM is trading near $231, modestly higher on the day but still close to its 52‑week low and down more than 30% year‑to‑date. [40]
- The investment debate hinges on whether booming Data Cloud & AI metrics and the Informatica acquisition can overcome slower core growth, security concerns and a still‑rich valuation. [41]
- The December 3 Q3 FY26 earnings report is the next major catalyst, with investors laser‑focused on AI monetization, security commentary and any changes to FY26 guidance. [42]
- Wall Street maintains a Moderate Buy stance with an average price target in the low‑$300s, implying substantial upside if Salesforce can turn its AI story into durable, profitable growth. [43]
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. It does not take into account your individual objectives, financial situation or needs. Always do your own research and consider consulting a licensed financial adviser before making investment decisions.
References
1. www.salesforce.com, 2. www.financecharts.com, 3. www.financecharts.com, 4. www.financecharts.com, 5. www.slickcharts.com, 6. www.marketwatch.com, 7. investor.salesforce.com, 8. www.reuters.com, 9. robinhood.com, 10. seekingalpha.com, 11. investor.salesforce.com, 12. www.barrons.com, 13. www.reuters.com, 14. status.salesforce.com, 15. www.techradar.com, 16. investor.salesforce.com, 17. investor.salesforce.com, 18. www.salesforceben.com, 19. www.salesforce.com, 20. www.reuters.com, 21. www.salesforce.com, 22. finance.yahoo.com, 23. investor.salesforce.com, 24. investor.salesforce.com, 25. www.marketbeat.com, 26. www.marketbeat.com, 27. investor.salesforce.com, 28. investor.salesforce.com, 29. www.salesforce.com, 30. thehackernews.com, 31. investor.salesforce.com, 32. www.marketbeat.com, 33. 247wallst.com, 34. www.financecharts.com, 35. www.reuters.com, 36. investor.salesforce.com, 37. www.salesforce.com, 38. thehackernews.com, 39. investor.salesforce.com, 40. www.financecharts.com, 41. investor.salesforce.com, 42. investor.salesforce.com, 43. www.marketbeat.com
