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Salesforce slides in Dow as Agentforce credibility concerns mount
Yahoo Finance notes Salesforce shares are down about 31.5% year to date, after Bernstein cut the stock to Sector Weight and removed its price target.
Salesforce Inc. is among the weakest Dow Jones Industrial Average components after investors questioned the real-world traction behind its Agentforce strategy, with the selloff driven largely by credibility concerns rather than demand, according to Yahoo Finance.
The report cites research suggesting most AI agent pilots fail to reach production, including a claim from Anaconda and Forrester research that over 88% of pilots never make it to production, plus Gartner’s forecast that more than 40% of agentic AI initiatives could be discontinued by 2027.
As part of the reassessment, Bernstein downgraded Salesforce on July 9 to Sector Weight from Outperform and removed its price target, pointing to poor customer feedback specifically tied to Agentforce. The story also highlights that an analyst cited by the outlet said the released data has not yet shown momentum and that a recent CIO survey found the company to be a standout for what was characterized as the wrong reasons.
The piece notes some investors remain constructive, pointing to Goldman Sachs reiterating a Buy rating and a $242 price target, with expectations that organic growth could improve in the third quarter as more details on AI monetization emerge at Salesforce’s Agentforce event in September. It also says the stock is trading at a compressed forward earnings multiple of 10.83x versus a five-year historical average of more than 127x, and compares that valuation to peers such as ServiceNow at about 20.43x.
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