Big Salesforce Price Target Cuts Ahead of Q4 Earnings

With Salesforce’s (NYSE: CRM | CRM Price Prediction) Q4 FY2026 earnings due February 25, three major Wall Street firms slashed their price targets on the stock Monday morning, raising a pointed question for investors: is it a stock that’s dangerous to overlook, or simply dangerous to own?

Salesforce stock has shed 30.1% year-to-date, sitting at $185.16 as of Friday’s close. The cuts this morning were steep:

• Barclays: To $265 from $338 (still Overweight)
• Evercore ISI: To $260 from $340 (still Outperform)
• Jefferies: To $250 from $375 (still Buy)

Though these three major Wall Street firms cut their price targets significantly, they maintained bullish ratings, suggesting the selloff has been overdone rather than fundamentally justified. Separately, Mizuho lowered its target to $280 from $340, also keeping an Outperform rating, citing broad AI disruption fears across enterprise software. BMO Capital, Citigroup, and UBS also cut targets last week.

The underlying numbers tell a complicated story. Q3 revenue grew 9% year-over-year to $10.26 billion, modest for a mega-cap tech company. But net income surged 36.61% to $2.09 billion, and Agentforce ARR hit nearly $1.4 billion, up 114% year-over-year. The company also returned $4.2 billion to shareholders in Q3 alone.

The tension is real. Top-line growth is incremental, AI competition risks are genuine, and Reddit sentiment has turned bearish with a score of 28 out of 100. But every analyst who cut targets this morning still sees 35% to 50% upside from current levels. Wednesday’s earnings report will be the first real test of whether Agentforce momentum can reignite the growth narrative or confirm the market’s skepticism.