Salesforce hits 14-day losing streak, 52-week low on AI fears

Salesforce Inc. shares fell 1.44% to $149.6 on Monday, extending a record 14-day losing streak that pushed the stock to a 52-week low.

"Salesforce has earned the unflattering title as the second-worst performing stock in our coverage universe in 2026," said Brian White, analyst at Monness Crespi, who upgraded the stock to Buy from Neutral with a $200 price target. White cited valuation rather than operational improvements, arguing current levels present a compelling entry point given the company's progress in supporting customers transitioning toward agentic enterprise models.

The decline marks the longest negative streak in CRM's trading history, with the last positive close on June 1 following mixed first-quarter earnings. Shares have dropped 28% since then and 43% year to date, touching a session low of $146.32. The selloff has accelerated as investors reassess whether AI coding tools could enable enterprises to build proprietary alternatives to Salesforce's Agentforce platform, bypassing its ecosystem entirely. The broader S&P 500 climbed 0.2% on Monday while the Nasdaq Composite edged down 0.2%, highlighting how Salesforce's underperformance diverges from the broader market trend. The Dow Jones Industrial Average advanced 0.5% during the session.

The $3.6 billion acquisition of AI customer-support startup Fin, announced last week, failed to stem the slide. Jefferies viewed the deal favorably, noting that Salesforce's 15 acquisitions since May 2025 have contributed to accelerated innovation. Canaccord Genuity maintained its Buy recommendation, characterizing Fin as a valuable AI asset. UBS preserved its Neutral stance with a $185 price objective. Despite these endorsements, shares continued their descent, suggesting the acquisition did little to shift near-term sentiment among investors focused on the longer-term disruption risk.

Among 54 analysts tracked by FactSet, the stock carries an average Overweight rating with a consensus price target of $244.58 — implying roughly 63% upside from current levels. The breakdown includes 40 Buy-equivalent recommendations, 12 Hold ratings, and just two Underweight assessments. The stock's relative strength index has entered oversold territory, according to InvestingPro, which estimates fair value approximately 57% above present trading levels.

The so-called SaaSpocalypse narrative — the idea that AI agents could displace traditional SaaS business models — has become the dominant driver of selling pressure across the software sector. Other enterprise software names have also come under pressure as investors reassess the durability of subscription-based models in an AI-native world. While Salesforce has attempted to address these concerns through acquisitions and its Agentforce 360 platform, which it also deployed with the Visa Cash App Racing Bulls Formula 1 Team for AI-driven fan engagement and operations, the market has yet to reward those efforts. Barron's, which had endorsed the stock in December, withdrew its recommendation on June 10.

The next catalyst for the stock could come with Salesforce's next quarterly report, where investors will look for measurable evidence that Agentforce is driving bookings and retention. If the company can demonstrate a clear re-acceleration tied to its AI push, the valuation gap between current pricing and analyst targets could narrow rapidly. Until then, the market appears to be pricing in a worst-case scenario where AI agents fundamentally reshape the competitive dynamics of enterprise software.

This article is for informational purposes only and does not constitute investment advice.