On July 23, Salesforce.com fell 3.05% in regular trading, trading at $158.16/share, with turnover of $341 million.
On the news front, multiple U.S. small businesses have been leveraging AI coding tools from Anthropic and Replit to build custom applications replacing Salesforce, saving tens of thousands to hundreds of thousands of dollars annually while incurring only minimal maintenance costs. The trend has raised market concerns that advancing AI capabilities will continue to erode the SaaS growth thesis.
Compounding the pressure, Morgan Stanley recently downgraded Salesforce from Overweight to Equal Weight, slashing its price target from $287 to $185 — a reduction exceeding 35%. Bernstein and KeyBanc have also consecutively downgraded the stock. Analysts note that while Salesforce's AI agent product Agentforce shows strong KPIs, persistent weakness in the legacy portfolio has offset AI-driven incremental contributions, with overall organic revenue growth still showing no inflection point. Shares are expected to remain range-bound amid sustained sector selling pressure.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)