- Price and recent moves: CRM closed at $236.58 on Oct 15, 2025 [1], after trading near a multi-month low of $235.69 on Oct 1 [2]. In pre-market on Oct 16 it was up ~5%, around $248 [3].
- Year-to-date performance: The shares are down roughly 27–28% in 2025 [4] [5], well underperforming the broad market amid sector headwinds. TechStock² noted CRM “rebounded slightly from recent lows around $235” as of early October [6].
- Dreamforce catalyst: At its Dreamforce conference (Oct 14–16), Salesforce unveiled an aggressive roadmap. CEO Marc Benioff set a $60 billion revenue target by 2030 (versus the ~$58.4B analysts expected), which sent CRM up ~5% in after-hours trading [7]. CFO Robin Washington told investors, “We have had some lower-stage growth for a while… that is reaccelerating” [8], signaling confidence that Salesforce’s AI-driven growth (via its new Agentforce platform) can rebound.
- Recent results and guidance: Salesforce reported a strong Q2 FY2026 (quarter to July 31) – $10.2B revenue (+10% YoY), beating estimates [9] – and announced a $20B increase to its buyback program (now $50B total) [10]. It modestly raised full-year FY26 guidance to ~$41.1–41.3B [11]. CEO Benioff hailed it as an “outstanding quarter” on track for a record year [12].
- AI strategy: Salesforce is doubling down on AI. In addition to the Dreamforce announcements, it struck new AI partnerships (OpenAI, Anthropic, etc.) to power Agentforce [13]. Reuters reported Salesforce will invest $15 billion in San Francisco (and $1B in Mexico) to build an AI talent pipeline [14]. These moves underscore Salesforce’s push to lead in “agentic” enterprise software.
- Analyst outlook: Wall Street is generally bullish. Thirty-three analysts rate CRM a “Buy” on average, with a consensus 12-month price target around $332 (≈+40% upside) [15]. Price targets range from about $221 up to $430 [16]. Raymond James reiterated a Strong Buy on Oct. 16 (post-Dreamforce) with a $375 target [17], calling the new targets “powerful ammo against key bear debates.” By contrast, some remain cautious: RBC Capital has a $250 target (Sector Perform) [18], and Bernstein’s recent Sell rating is tied to a ~$221 target [19].
- Market context: Salesforce’s moves come as tech stocks rally on AI enthusiasm. Bloomberg noted on Oct. 16 that AI-linked names (Nvidia, Micron, Broadcom, etc.) were leading pre-market gains, lifting Nasdaq futures ~+0.4% [20]. Salesforce trades at about 20× forward earnings [21] – far below Microsoft/Oracle (~31×) – so any growth upside could have a magnified impact on the stock.
Stock Price and Recent Trends
After a bumpy September, Salesforce shares have steadied in the mid-$230s. TechStock² reported that CRM rebounded from a ~$235 low on Oct. 1 to about $241 by Oct. 6 [22]. As of Oct. 15’s close the stock was $236.58 [23]. In early Oct. 16 trading it was up around 5% (≈$248) as investors absorbed the latest news [24]. For 2025 to date, CRM is roughly 27–28% below its January levels [25] [26], reflecting both company-specific concerns and a general tech sector pause. (Salesforce’s beta is above 1, meaning it tends to magnify market swings [27].)
Dreamforce Unveils $60B 2030 Goal
The immediate catalyst for Friday’s move was Dreamforce. At the Oct. 15 keynote, Benioff and other leaders laid out a vision for reigniting growth. A marquee announcement was a $60 billion revenue target by 2030 – well above what analysts had penciled in. This news drove a late-session surge: Salesforce “just delivered the growth story Wall Street’s been craving,” as one tech outlet put it [28]. In extended trading on Oct. 15, CRM spiked ~5% on the $60B target alone [29]. Speaking at Dreamforce, CFO Robin Washington said, “We have had some lower-stage growth for a while… that is reaccelerating” [30], pushing back on recent investor anxiety. CEO Benioff also emphasized real-world traction for Salesforce’s AI tools, showcasing new Agentforce deployments with major customers at the event [31] [32].
The company’s cloud-AI roadmap received other boosts. For example, Salesforce announced strategic partnerships to fold OpenAI’s and Anthropic’s latest models into its Agentforce platform [33]. It also reported expansions in its Data Cloud (now >$1.2B ARR [34]) and new deals: per Salesforce, over 1.4 million help-desk requests were handled by Agentforce in Q2 [35]. In summary, Dreamforce painted a picture of accelerating AI-led growth – giving bulls a case for re-rating the stock after months of caution.
Market and Sector Backdrop
Salesforce’s fortunes have also been tied to broader tech trends. On Oct. 16 Wall Street was buoyed by solid tech earnings and AI optimism. Bloomberg noted U.S. tech indices rallied that morning, with “AI-linked heavyweights” leading premarket gains [36]. In this environment, cloud software and SaaS stocks like Salesforce have benefited. CRM’s valuation looks relatively cheap in that sector: it trades around 20× forward earnings [37] versus roughly 31× for peers like Microsoft and Oracle [38]. This valuation gap implies Salesforce may be underpriced if it can reaccelerate growth. Nonetheless, some headwinds remain. Recent months saw cautious Q1 guidance (Sept. 2025) and even rumors of a cyber-attack via client endpoints (Reuters reported no breach in Salesforce’s own systems [39]), which have put pressure on the shares. Overall, traders are weighing optimistic AI prospects against these near-term uncertainties.
Recent Earnings and Company Moves
Salesforce’s latest financials were mostly encouraging, but guidance was lukewarm. In Q2 FY2026 (Jul ’25 quarter) the company delivered $10.2 billion in revenue (up 10% YoY) [40], well above consensus. Subscription revenue alone was $9.7B (+11% Y/Y) [41]. Margins also expanded – Salesforce noted this was their tenth straight quarter of operating-margin growth [42]. “We delivered an outstanding quarter,” Benioff said, noting Salesforce is on track for a record ~$15 billion in operating cash flow this year [43]. The firm returned $2.6 billion to shareholders in the half (buybacks + dividends) and, importantly, the board added $20 billion more to its share repurchase authorization [44] (a vote of confidence in the stock). Full-year guidance was nudged up: FY26 sales are now expected around $41.1–$41.3 billion [45], about 8.5–9% growth.
On the corporate front, Salesforce consolidated leadership roles. In Feb. 2025 it announced that Robin Washington (formerly a director and ex-Gilead CFO) would become Chief Operating & Financial Officer (COFO) [46], merging the CFO and COO functions. This change takes effect in March 2026 as outgoing COO Brian Millham retires [47]. Benioff praised the move, saying he was “excited” to work with Washington in the new role [48]. The company described the COFO’s mission as driving “profitable growth, operational excellence and financial strategy” while leading the charge to make every business an “Agentforce company” in the new AI era [49].
Analyst Outlook and Price Targets
Wall Street’s analysts have mixed, but mostly upbeat, forecasts for CRM. StockAnalysis.com notes that of 33 analysts covering Salesforce, the average rating is Buy and the mean 12-month target is ~$331.76 (implying ~+40% upside) [50]. Top price targets are as high as the $370–$430 range, reflecting bullish scenarios [51]. For example, Piper Sandler maintained a $315 target (Buy) on Oct. 16 [52], and Raymond James reiterated a $375 target (Strong Buy) right after Dreamforce [53], arguing the company’s new long-term goals provide “powerful ammo” for investors. On the conservative side, RBC Capital has a $250 target (Sector Perform) [54] and Bernstein’s recent downgrade pegs the stock at ~$221 [55].
In summary, most analysts see room for a big rebound if Salesforce can deliver on its AI-powered growth story. The stock trades at relatively low multiples against those expectations, so any evidence of accelerating revenue could trigger a sharp move higher. Of course, execution risk and macro factors (trade and rate concerns) remain. As Morningstar’s Dan Romanoff noted about Salesforce’s strategy, “we already see shortages of AI talent, so [the company’s talent investment] makes sense” [56] – but it’s also a long play. Investors will be watching upcoming updates (including the Oct 15 investor day commentary) to judge whether Salesforce can indeed turn its bold new targets into reality.
Sources: Salesforce press releases and filings [57] [58]; Reuters and Bloomberg market reports [59] [60]; TechStock²/ts2 analysis [61]; The Tech Buzz (techbuzz.ai) [62] [63]; Investing.com (analyst notes) [64] [65]; StockAnalysis.com forecasts [66] [67].
References
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