Salesforce investors are worried after the stock fell about 10% year-to-date in early 2026. The drop makes the stock the Dow’s worst-performing member so far this year amid growing AI concerns.
In 2025 the stock slid about 24%, while rival Microsoft gained roughly 14%. A leadership transition and shifting project priorities have added to investor uncertainty.
Salesforce has launched new AI initiatives and drawn positive analyst attention. In December the company raised its fiscal 2026 revenue outlook and adjusted profit forecasts.
JPMorgan analyst Mark Murphy warned the company faces a complex transition period. “We continue to emphasize that Salesforce is in a complicated 12-18 month period of transition for which internals seem to be stabilizing/improving, and yet may not translate into tangible/linear improvements across all the metrics investors are trained to focus on (revenue, cRPO, etc.),” he warned in a recent note to clients (Ed. note: the timeline could delay visible metric gains).
Analysts remain broadly optimistic about a rebound as the firm adapts to AI trends. Evercore ISI Group has a $340 price target and Truist Securities sets a $380 target.
