What Would It Take For Salesforce Stock To Move Higher? Trefis Team Tue, October 13, 2026 at 3:17 PM EDT 3 min read CRM +1.75% ^GSPC -0.02% MSFT +0.43% ORCL +4.23% ADBE -0.78% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Salesforce (CRM) stock has lost 3.8% over the past twelve months, trailing the 17.3% return of the S&P 500. Executives say their job with artificial intelligence is to deliver new value to customers. During the fiscal Q2 2027 earnings call on August 26, 2026, management described an upgrade that most of its users have not made yet.
Salesforce Wants Its Customers On Premium Editions
Salesforce is waiting to sell its customers an upgrade. The company packages its newest AI features within premium editions of its software, and management noted that clients seeking these features must move to higher-end tiers. One such feature combines an AI model with the data a customer already stores inside Salesforce.
Few users have made the transition so far. Only 5% of the people who use Salesforce's sales and service software have upgraded to the higher-end editions, according to management. Yet the company stated that customers that have started using Salesforce's AI agents already spend about twice as much a year with the company, on average.
Agentforce's Recurring Revenue Is Small Beside The Whole Company
Agentforce, the company's product for AI agents, reached $1.5 billion of annual recurring revenue in fiscal Q2 2027. That figure remains a small fraction of the $43.9 billion of revenue Salesforce generated over the last twelve months.
The growth opportunity lies in the software those upgrades are sold into. Sales and service applications represent its two largest segments, posting $9.0 billion and $9.8 billion of revenue in fiscal 2026. Together they made up roughly 45% of the company's revenue that year, and each grew by about 8%.
Management has outlined broader ambitions for the business. In September, executives set a target of more than $63 billion in revenue for fiscal 2030. That compares with the $41.5 billion reported for fiscal 2026.
The share price appears to assume some of this growth already. The stock has risen 40% in the past three months, compared with 3.8% for the index. Still, the shares remain 11.5% below their 52-week high.
What Has Salesforce Not Yet Shown Investors?
Salesforce has not yet disclosed how much of Agentforce's revenue comes from customers who are past the trial stage. When asked about this during the August 26 call, management provided a count instead: the company added 2,000 paying customers into production, and said the number of accounts with agents in production grew 70% from the quarter before.
Users can now access Salesforce through tools like Slack without opening the company's dedicated software screens. Management said it is still determining how to charge for that access.
The next earnings report covers fiscal Q3 2027. Salesforce issued revenue guidance of $11.42 billion to $11.5 billion for the quarter, following reported revenue of $11.35 billion in fiscal Q2. The key metrics to watch in that report are the share of sales and service users on premium editions and Agentforce's recurring revenue.
Does This Mean You Should Act On CRM?
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