Movement Alert｜Salesforce Falls 3.1% in Pre-Market Trading, Multiple Banks Cut Target Prices After Q2 Guidance Misses Expectations

Market Focus06-02 17:36

On June 2, Salesforce declined 3.1% in pre-market trading at $203.62/share, with trading volume of approximately $10.02 million. The drop follows a wave of Wall Street target price cuts after the company's Q1 FY27 earnings report delivered mixed signals.

While Salesforce posted adjusted EPS of $3.88 (well above the $3.12 consensus) and revenue of $11.133 billion (up 13% YoY), its Q2 revenue guidance of $11.27-11.35 billion fell short of the $11.4 billion analyst expectation. Multiple firms subsequently lowered targets: Barclays cut to $236 from $252, Canaccord Genuity and Baird both reduced to $225 from $250, BMO trimmed to $215, Bernstein lowered to $173 maintaining an underperform rating, and Wells Fargo cut to $200. Additionally, the company's $250 billion debt-funded accelerated share repurchase program raised leverage concerns, while free cash flow growth guidance was significantly reduced. Broader market anxiety over AI potentially disrupting the seat-based SaaS model continues to weigh on the stock, which has declined approximately 33% year-to-date.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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