Salesforce stock falls during Dreamforce as Jefferies sticks to Buy rating

Published on 09/21/2026 at 13:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Salesforce stock closed at USD 237.92 on September 18, 2026, down 2.03 percent and 8.29 percent over five Dreamforce sessions. Jefferies maintained a Buy rating with a USD 300 price target while Salesforce reiterated a long term revenue target above USD 63 billion.

Fotorealistisches Datenzentrum mit endlosen blauen Server-Rack-Reihen und Spiegelböden — Salesforce US79466L3024 zeigt ein fotorealistisches Datenzentrum mit leuchtenden blauen Server Racks und Spiegelböden, Illustration mit AI erstellt.

Salesforce, Inc. stock (ISIN US79466L3024) ended the last completed trading day at USD 237.92 on the New York Stock Exchange as of September 18, 2026, a drop of 2.03 percent from the prior close and 8.29 percent over the five sessions around Dreamforce.

Jefferies reiterates Buy rating and USD 300 target

According to MarketScreener on September 18, 2026, Jefferies kept its Buy rating on Salesforce stock with a unchanged price target of USD 300, implying roughly 26 percent upside from the recent USD 237.92 closing level.

The same analyst overview cited by MarketScreener shows that the average analyst target price for Salesforce stands at USD 282.49 based on 55 analysts, about 18.73 percent above the last close of USD 237.92.

Dreamforce pressure and long term growth target

As TS2 reported on September 20, 2026, Salesforce stock fell 8.29 percent over the five sessions spanning its Dreamforce conference, declining from USD 259.43 on September 14, 2026 to USD 237.92 on September 18, 2026 and closing near the session low of USD 236.55.

In the same analysis, TS2 notes that Salesforce reiterated its long term fiscal 2030 revenue ambition above USD 63 billion, which would require about 11.0 percent compound annual growth from fiscal 2026 revenue of USD 41.5 billion.

Latest quarterly figures underpin guidance

The operating base for this revenue trajectory comes from Salesforce's most recently reported fiscal second quarter, with results dated August 26, 2026 and summarized by TS2.

For fiscal Q2 2026, Salesforce reported revenue of USD 11.345 billion, up 10.8 percent year over year, reflecting continued demand for its customer relationship management and cloud software portfolio.

In the same quarter, Salesforce's remaining performance obligation (current RPO) reached USD 33.5 billion, an increase of 14 percent at constant currency compared with the prior year period, highlighting a sizable backlog of contracted future revenue.

Salesforce also emphasized subscription momentum in its AI related offerings: annual recurring revenue from Agentforce and Data 360 reached nearly USD 3.9 billion in fiscal Q2 2026, more than 210 percent higher than the prior year, while Agentforce alone surpassed USD 1.5 billion in ARR, up more than 240 percent year over year.

Free cash flow for fiscal Q2 2026 totaled USD 1.098 billion, which TS2 reports was 81 percent higher than in the prior year quarter, giving Salesforce additional flexibility to invest in AI infrastructure and acquisitions while returning capital to shareholders.

Alongside these Q2 figures, Salesforce guided fiscal 2027 revenue to a range of USD 46.1 billion to USD 46.4 billion, including slightly over three percentage points of contribution from the Informatica partnership, according to TS2.

Short interest and competitive pressures

Market positioning in Salesforce stock remains relatively balanced: as of August 31, 2026, short sellers had borrowed 29,211,825 shares, equal to 3.68 percent of the float, according to MarketBeat.

Investor letters also highlight risks: GuruFocus cited Diamond Hill Capital's Q2 2026 fund letter, noting that Salesforce shares declined after what it described as mixed quarterly results amid concerns that customers could bring more software capabilities in house and that competition from generative AI tools is intensifying.

Market capitalization and trading range

Per Nasdaq and CompaniesMarketCap, Salesforce's market capitalization stood at USD 195.80 billion as of September 19, 2026, placing it as the 96th most valuable listed company globally by that measure.

The analyst consensus compiled by MarketScreener shows that Salesforce shares are rated a mean consensus of Buy, with the current price of USD 237.92 trading at an 18.73 percent discount to the average target of USD 282.49.

Closing price and trading venue

Salesforce stock last closed at USD 237.92 on the New York Stock Exchange on September 18, 2026, with intraday trading that day ranging between USD 236.55 and USD 244.25, as reported by TS2.