Analysts slash Salesforce price targets ahead of Wednesday earnings, as narrative of AI eating its lunch persists
A number of analysts have significantly lowered their price targets for Salesforce, citing growing fears that AI workforce tools, including Anthropic’s Cowork, could threaten parts of its core business. According to reports, here are some of the recent cuts:
Morgan Stanley cut its price target nearly 30%, to $287 from $398.
Jefferies slashed its forecast 33%, to $250 from $375.
Barclays reduced its price target to $265 from $338.
Evercore ISI went to $260 from $340.
Last week, Citigroup also reduced its price target to $197 from $257.
Earlier this month, Wedbush Securities analyst Dan Ives offered a different view, adding Salesforce to his list of top 30 AI companies and calling the stock a “core participant” in the “AI revolution.” He described the recent software sell-off as “overblown.”
Shares of Salesforce, which reports earnings Wednesday, are down 30% year to date and 1% premarket today.
