(CRM) plummeted from about $2780 to $217.47 with a first-quarter revenue miss. But it appears the pullback is overdone, according to analysts.

For example, “We continue to view GenAI as a tailwind for Salesforce, with benefits likely coming in CY25,” Morgan Stanley analyst Keith Weiss said, as quoted by CNBC. Weiss reiterated an overweight rating on Salesforce, with a $320 per share price target.

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Goldman Sachs reiterated a buy rating on the stock, with a price target of $315. 

JPMorgan analyst Mark Murphy said the sell-off in Salesforce stock is “overdone,” and that investors are largely overlooking the company’s still-strong free cash flow generation and its unchanged full-year forecast as well as 2025 estimates. The analyst reiterated an overweight rating on the stock with a $300 per share price target, added CNBC.

While we agree with the analysts on the pullback being overdone, wait for confirmation of trend change before jumping into the stock. The last thing you want to do now is get cut by the stock’s falling knife before it firmly bottoms out.


Ian Cooper