Salesforce (CRM) investors are worried about the stock’s slow start to 2026, as share prices are down 10% already year-to-date. Investors’ fears that AI will cut into the industry-leading CRM provider and other software giants are growing. As a result, CRM stock is the worst-performing member of the Dow Jones Industrial Average so far this year.
In 2025, Salesforce had a rough year. The stock tanked 24% in 2025, while long-time rival Microsoft (MSFT) rose 14%. The continued decline to open 2026 is especially a concern, and its ongoing transition in leadership and project focus could bring more uncertainty. However, despite this, the company has launched new AI initiatives and received positive analyst coverage, indicating potential long-term value. In December, Salesforce also raised its fiscal 2026 revenue and adjusted profit forecasts.
Wall Street has faith that Salesforce CRM is in a tough phase that will end soon. “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.),” JPMorgan analyst Mark Murphy warned in a recent note to clients. While this may not translate into near-term gains, this fits the long-term rebound projections across Wall Street.
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Indeed, several firms have issued bullish forecasts, suggesting a CRM stock rebound. Analysts expect Salesforce’s earnings to improve as the company adapts to AI trends, despite current sales slumps and enterprise spending pressures. Most analysts, including Evercore ISI Group and Truist Securities, maintain bullish outlooks with high price targets. Evercore leads with a $340 target, while Truist is even more optimistic at $380.