Stock Track | Salesforce Plummets 5.43% Intraday on Guidance Miss, Target Cuts and AI Disruption Fears

Stock Track06-02 22:08

Salesforce.com's stock experienced a sharp intraday plummet of 5.43% on Tuesday, extending recent losses for the cloud software giant.

The decline follows the company's Q1 FY27 earnings report which delivered mixed signals. While Salesforce posted better-than-expected adjusted earnings per share, its Q2 revenue guidance of $11.27-11.35 billion fell short of analyst expectations. This guidance miss triggered a wave of Wall Street target price cuts from multiple firms including Barclays, Canaccord Genuity, Baird, BMO, Bernstein, and Wells Fargo.

Investor concerns were further heightened by the company's $25 billion debt-funded accelerated share repurchase program, which raised leverage worries, and a significant reduction in free cash flow growth guidance. Broader market anxiety over artificial intelligence potentially disrupting the traditional seat-based SaaS software model continues to weigh on the stock, with software shares broadly declining amid these sector-wide fears and capital rotation out of the sector.

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