Salesforce (CRM) Stock Today: AI Earnings Beat, Raised FY26 Guidance and 2026 Price Targets

Salesforce, Inc. (NYSE: CRM) is back in the spotlight after delivering a stronger‑than‑expected fiscal Q3 2026, lifting its full‑year outlook and reigniting debate about whether Salesforce stock is finally ready for a sustained recovery.

As of December 10, 2025, Salesforce shares trade around $260 per share, giving the company a market capitalization of roughly $240–250 billion. ^[1] The stock sits about 29% below its 52‑week high of around $367 and roughly 20–30% lower year‑to‑date, depending on the measure used. ^[2]

Below is a detailed roundup of all the key Salesforce stock news, forecasts and analyses as of December 10, 2025, including earnings, AI momentum, analyst targets and long‑term projections.

1. Salesforce stock snapshot (December 10, 2025)

Latest price: about $260.19 intraday.
Market cap: roughly $243–249 billion by major data providers. ^[3]
52‑week range:$221.96 – $367.09. ^[4]
YTD performance: around ‑22% total return year‑to‑date. ^[5]

This places CRM stock well below its early‑2025 highs but significantly above its recent 52‑week low in November, reflecting renewed optimism after the latest earnings report.

2. Q3 FY26 earnings: a solid beat driven by AI

Salesforce’s fiscal Q3 2026 (quarter ended October 31, 2025) came in better than Wall Street expected on profits, largely thanks to cost discipline and rapid growth in AI‑driven products.

Key numbers from Q3 FY26 include: ^[6]

Revenue: about $10.26–10.30 billion, up roughly 9% year‑over‑year (around 8.6% in constant currency).
Non‑GAAP EPS:$3.25, beating analyst expectations of roughly $2.86 by more than 13%.
GAAP net income: about $2.1 billion, a substantial improvement from the prior year. ^[7]
Non‑GAAP operating margin: around 35.5%, ahead of forecasts and up year‑over‑year. ^[8]
Operating cash flow: about $2.3 billion, up 17% year‑over‑year.
Free cash flow: about $2.2 billion, up roughly 22% year‑over‑year. ^[9]
Current remaining performance obligation (cRPO):$29.4 billion, up 11% year‑over‑year, signalling a robust pipeline of future revenue. ^[10]
Total remaining performance obligation (RPO): nearly $60 billion, up about 12%. ^[11]

Multiple analyst commentaries highlight that Q3 marked an important inflection point: AI products and improved execution allowed Salesforce to beat on earnings, even though revenue growth remains in the single digits.

Zacks notes that non‑GAAP EPS grew about 35% year‑over‑year, while revenue rose around 10%, reflecting the benefits of restructuring and AI‑driven upsell across the customer base. ^[12]

3. AI momentum: Agentforce & Data 360 lead the story

The biggest driver of investor excitement is Salesforce’s AI portfolio, especially Agentforce and Data 360.

Across official disclosures and analyst coverage, the key AI metrics are: ^[13]

AI ARR (Agentforce + Data 360):
- Nearly $1.4 billion in annual recurring revenue (ARR) in Q3, up about 114% year‑over‑year.
Agentforce ARR:
- Around $540 million, up roughly 330% year‑over‑year.
Agentforce ecosystem scale:
- Over 3.2 trillion tokens processed by Agentforce, according to Salesforce’s Q3 press release. ^[14]
Deal activity:
- The Wall Street Journal reports that Salesforce closed around 18,500 Agentforce deals, roughly half of them paid, with six of the ten largest Q3 deals including Agentforce. ^[15]

In the Q3 earnings call, management emphasized that:

Customers increasingly prefer integrated AI agents from Salesforce rather than building in‑house tools.
Agentforce, Data 360, Informatica and MuleSoft together form a data + AI foundation the company sees as a key competitive moat. ^[16]

A concrete example of adoption: DeVry University is rolling out Agentforce 360 to give more than 32,000 learners always‑on, personalized support, while Data 360 automates key administrative workflows. ^[17] This kind of real‑world deployment is critical for proving AI’s value beyond demos.

But not everyone is convinced

A KeyBanc survey of CIOs, highlighted by Barron’s, shows a more cautious backdrop: ^[18]

Only 36% of respondents said they’re willing to pay specifically for AI features in CRM software, down from 46% previously.
Just 7% are currently using Salesforce’s Agentforce tools.
Despite this, Salesforce remains the top‑recognized CRM vendor, chosen by 45% of respondents (up from 35%).
KeyBanc still rates Salesforce Overweight with a $400 price target, but suggests Microsoft is capturing a larger share of enterprise AI budgets.

Other research and user‑review aggregations point to mixed satisfaction with Einstein AI deployments, with some enterprises struggling to realize promised ROI or to integrate AI into existing workflows. ^[19]

The takeaway: Salesforce’s AI business is growing quickly, but the willingness of customers to pay premium prices for AI features remains uneven, making execution risk very real.

4. Updated FY26 guidance and Q4 outlook

On December 3, Salesforce raised its full‑year FY26 outlook, powered by AI demand and the acquisition of Informatica. According to the company and multiple financial outlets: ^[20]

For full‑year FY26:

Revenue:
- New guidance: $41.45–$41.55 billion, up from $41.1–$41.3 billion; about 9–10% annual growth.
Adjusted EPS:
- New range: $11.75–$11.77, up from prior guidance; implies mid‑teens EPS growth.
Non‑GAAP operating margin: around 34.1%.
Operating cash flow growth: targeted at 13–14% year‑over‑year.

For Q4 FY26:

Revenue:
- Guided to $11.13–$11.23 billion, implying 11–12% growth (roughly 10–11% organically). ^[21]
Adjusted EPS:
- Expected in the $3.02–$3.04 range.
cRPO growth:
- Around 15% nominal, including several percentage points from Informatica. ^[22]

Reuters notes that shares jumped in after‑hours trading after the guidance raise, as investors welcomed the combination of AI ARR acceleration and higher profitability despite only modest topline growth. ^[23]

5. What Wall Street is saying now

5.1 Consensus ratings and price targets

Across aggregators, Salesforce stock is generally rated a “Moderate Buy” with meaningful upside from current levels.

MarketBeat data (around early December) shows: ^[24]
- Average 12‑month price target: about $326–$327.
- High target:$430.
- Low target: around $221–$223.
- Implied upside vs a recent share price around the mid‑$250s is roughly 25–30%.
A Nasdaq‑hosted analysis citing Visible Alpha data recently framed average targets near $330, with most analysts rating the stock a Buy and expecting a near‑full recovery to early‑year levels if AI execution continues to improve. ^[25]

Several recent analyst calls illustrate the range of views: ^[26]

Morgan Stanley: Overweight, target around $398–$405, arguing the market underestimates Salesforce’s AI potential.
Needham: Buy, $400 target.
Citizens: “Market Outperform,” target $430.
Oppenheimer: Outperform, target cut from $315 to $300 heading into earnings, citing AI transition uncertainty.
Citigroup: Neutral, target trimmed to $253–$257.
DA Davidson: Neutral, target raised to $235.
Wolfe Research: Outperform, target reduced from $310 to $300, still implying significant upside from current levels.

Across these notes, a common theme emerges:
analysts are broadly constructive but increasingly selective, rewarding margin improvement and AI wins while closely watching whether growth can re‑accelerate into low double digits.

5.2 Zacks: valuation attractive, growth slower

A fresh Zacks analysis titled “How Should Investors Play Salesforce Stock After Q3 Earnings Beat?” concludes: ^[27]

Salesforce’s forward P/E around 21× is cheaper than the broader software industry average near 29×.
The stock also trades at a discount to mega‑cap peers like Microsoft, Oracle and SAP on a P/E basis.
However, revenue growth has cooled to high single‑digits / ~10% annually, versus much faster growth in earlier years.
Zacks expects EPS to grow at roughly 15% CAGR over the next five years, down from nearly 28% previously, and assigns Salesforce a Rank #3 (Hold).

In short, Zacks sees reasonable valuation and strong AI positioning, but views the slower growth profile as justification for a more neutral stance in the near term.

5.3 Other post‑earnings commentaries

Investopedia highlights that the Q3 beat and raised outlook “injected some enthusiasm” into Salesforce stock, noting AI and Data 360 more than doubled ARR and positioning the company for stronger cash generation. ^[28]
Another Investopedia piece asks, “Can Salesforce Stock Recover? Here’s What Wall Street Thinks,” pointing out that the stock is still down nearly 30% for 2025 but that most analysts remain positive, with an average target near $330. ^[29]
A Finviz/MarketBeat technical write‑up describes Salesforce shares as “coiled like a spring,” citing 35% upside to consensus price targets and potential for a breakout if they regain key moving averages. ^[30]

6. Fresh long‑term forecasts: 2025–2030 scenarios

One of the more detailed long‑horizon projections comes from 24/7 Wall St., which offers a Salesforce price prediction through 2030. ^[31]

Drawing on Salesforce’s own growth assumptions and external factors, they outline the following illustrative price path (their numbers, not guarantees):

End of 2025: target $302
2026:$333.90
2027:$380.70
2028:$412.80
2029:$451.50
2030:$493.80

This implies a potential ~116% gain from current prices by 2030 if Salesforce executes on its AI roadmap, successfully expands in international markets, and maintains double‑digit EPS growth.

24/7 Wall St. also highlights:

Strong brand strength in CRM.
Ongoing R&D in AI, quantum and advanced analytics.
But also headwinds from increasing competition, activist pressure, and slower‑than‑hoped adoption of Agentforce in 2025, which contributed to weaker earlier guidance. ^[32]

These long‑term forecasts are inherently speculative, but they show that bullish models still see Salesforce as a compounder over the rest of the decade, assuming AI investments pay off.

7. Valuation check: Is Salesforce stock cheap?

On common valuation metrics, Salesforce today looks cheaper than many high‑growth software peers, but still rich versus the broader market.

Recent data from several sources indicates: ^[33]

Trailing P/E (TTM): roughly 34–35×.
Forward P/E: around 18–21×, depending on the earnings estimate set.
Price‑to‑Sales: about 6.2×.
Price‑to‑Book: roughly 4.0×.
Enterprise value to revenue: around 6.0×.

Independent valuation sites add more context:

Simply Wall St. estimates Salesforce’s P/E around 33–34×, below a peer average over 56×, and suggests CRM is good value vs high‑growth cloud peers but still a bit expensive vs the broader U.S. software industry (~32×). ^[34]
AlphaSpread’s blended DCF/relative model pegs intrinsic value near $310 per share, about 16% above current levels, classifying the stock as modestly undervalued. ^[35]

Overall, the market appears to be discounting slower growth and AI execution risk, but still recognizing Salesforce as a high‑quality, high‑margin software leader.

8. Other notable Salesforce stock news around December 10, 2025

Beyond earnings and guidance, several recent headlines are shaping sentiment around CRM stock:

8.1 Insider buying

A Salesforce director, Mason Morfit, recently bought about 96,000 shares at an average price near $260.58, a transaction worth roughly $25 million. ^[36]

Such sizable insider purchases are often interpreted as a vote of confidence in the company’s long‑term prospects, though they are not guarantees of performance.

8.2 Institutional flows

QuiverQuant notes that Franklin Resources cut its Salesforce position by more than 50% (about 3.8 million shares) in Q3 2025, even as other institutions added exposure. ^[37] This demonstrates that institutional opinion is far from unanimous; some managers are taking profits or reallocating even as others buy.

8.3 Leadership changes at Slack

Slack, Salesforce’s collaboration platform, saw its CEO Denise Dresser depart to become OpenAI’s new Chief Revenue Officer. ^[38] While Slack’s chief product officer is serving as interim CEO, the move adds another layer of leadership transition to Salesforce’s already complex integration story.

8.4 Product & customer wins

Salesforce continues to announce new AI‑powered deployments like the DeVry Agentforce rollout, as well as expansions of its AI and data platforms aimed at long‑term revenue targets (some commentary even references ambitions to eventually approach $60 billion in annual revenue). ^[39]

9. Key bull vs. bear arguments on Salesforce stock

Bull case for Salesforce (CRM)

#1 in CRM with a massive installed base and strong brand, making cross‑sell of AI features easier than for most rivals. ^[40]
Explosive AI ARR growth: Agentforce and Data 360 ARR doubling year‑over‑year, with Agentforce ARR up over 3×. ^[41]
Improving profitability with non‑GAAP operating margin around the mid‑30s and strong free cash flow growth. ^[42]
Reasonable valuation relative to high‑growth software peers, with forward P/E in the high teens/low 20s and free‑cash‑flow strength. ^[43]
Shareholder returns via a growing buyback program and a recurring dividend. ^[44]
Long runway in international and mid‑market segments, plus new workloads such as AI agents, data integration and vertical solutions. ^[45]

Bear case for Salesforce (CRM)

Revenue growth has slowed to high single‑digits / ~10%, a far cry from the 20–30% rates investors once paid premium multiples for. ^[46]
AI monetization risk: surveys show limited willingness to pay extra for AI in CRM and low adoption of Agentforce among CIOs so far. ^[47]
Fierce competition from Microsoft Dynamics, Oracle, SAP, HubSpot and others in both CRM and AI, with some analysts arguing Microsoft will capture a larger share of AI spending in 2026. ^[48]
Leadership transitions and activist pressure, including past concerns about guidance, acquisitions and cost structure, which can distract management. ^[49]
Execution risk on acquisitions, especially Informatica, which is now embedded into Salesforce’s data and AI narrative and must deliver synergies to justify its price tag. ^[50]

10. What could move Salesforce stock next?

For investors watching CRM stock after the Q3 beat, the main upcoming catalysts include:

Q4 FY26 earnings and the next guidance update – especially any hints that growth can accelerate beyond ~10%. ^[51]
Agentforce and Data 360 adoption metrics, including the percentage of paid Agentforce deals and ARR growth trajectory. ^[52]
Informatica integration and cross‑sell into Salesforce’s customer base. ^[53]
Competitive AI news from Microsoft, Oracle, ServiceNow, Adobe and others that could either validate or challenge Salesforce’s AI strategy. ^[54]
Macro trends in enterprise IT budgets, particularly whether AI and CRM continue to gain wallet share as CIOs enter 2026 planning cycles. ^[55]

11. Bottom line: How Salesforce stock looks on December 10, 2025

As of December 10, 2025, Salesforce (CRM) stock sits at an interesting crossroads:

The company has just delivered a clean earnings beat, raised guidance and showcased rapid AI ARR growth, especially in Agentforce and Data 360.
Yet, the share price remains well below its 52‑week high and down materially for 2025, reflecting ongoing questions about sustained growth, AI willingness‑to‑pay and intense competition.
Most analysts still rate Salesforce a Buy / Overweight with double‑digit upside over the next 12 months, and some long‑term forecasts see the potential for the stock to nearly double by 2030 if AI bets pay off. ^[56]

For current and prospective investors, Salesforce now represents a large, profitable, AI‑leveraged cloud leader trading at mid‑30s trailing and ~20× forward earnings, with both significant opportunity and non‑trivial risk.