Analyst Karl Keirstead from UBS maintained a Hold rating on Salesforce and keeping the price target at $200.00.
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Karl Keirstead has given his Hold rating due to a combination of factors tied to Salesforce’s mixed growth profile and current valuation. Revenue growth of about 6% in the latest quarter and in the near-term outlook came in slightly below his expectations, and most of the business remains under pressure from a soft applications spending environment and weakness in areas like Marketing, Commerce, Tableau, and on‑premise licenses.
At the same time, he acknowledges strong momentum in Agentforce, with rapidly rising run-rate revenue and improving enterprise adoption, as well as indications that bookings and subscription growth could pick up in the second half of FY26 and FY27. However, AI-related revenue is still too small to offset broader deceleration, and with the shares trading around 11x projected CY26 free cash flow—roughly in line with peers—he views the current valuation and risk/reward as balanced, supporting a Neutral stance and an unchanged $200 price target.
In another report released today, Wells Fargo also maintained a Hold rating on the stock with a $210.00 price target.
Based on the recent corporate insider activity of 288 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRM in relation to earlier this year.