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Salesforce (CRM) is back in focus as investors weigh its current share price near $227 against recent performance, including negative total returns over the past year and mixed multi year results.

See our latest analysis for Salesforce.

Over the past month, Salesforce’s share price return of 12.62% decline and year-to-date share price return of 10.45% decline point to fading momentum, while a 3-year total shareholder return of 48.44% contrasts with a 30.06% decline over 1 year.

If Salesforce’s recent pullback has you reassessing your tech exposure, it could be a good moment to see what else is out there with high growth tech and AI stocks.

With Salesforce trading near $227, some investors see a roughly 41% intrinsic discount and a 45% gap to analyst targets. This raises a key question: is this an opening, or is the market already pricing in future growth?

According to yiannisz, the narrative assigns Salesforce a fair value of US$268.76 per share, compared with the recent close near US$227, which is where the equity market is pricing it today.

Salesforce (NYSE: CRM) delivered another strong quarter, proving it can grow revenue while expanding profitability, something investors have demanded for years. For Q2 fiscal 2026 (ended July 31, 2025), revenue climbed 10% year-over-year to $10.2 billion, with subscription and support revenue up 11% to $9.7 billion.

Read the complete narrative.

Curious how a double digit revenue run rate, rising margins and a richer profit multiple all fit together into that fair value number? The narrative leans on sustained cash generation, disciplined profitability and a future earnings profile that it treats more like a premium software platform than a utility. Want to see which growth and margin assumptions actually carry most of the weight in that US$268.76 figure?

Result: Fair Value of $268.76 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, there are still clear risks, including slower enterprise software spending and AI projects that cost more to run than customers are willing to pay for.

Find out about the key risks to this Salesforce narrative.

If you see Salesforce differently, or prefer to weigh the numbers yourself, you can build a fresh, data driven story in minutes with Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Salesforce.

If Salesforce is on your watchlist, do not stop there. Broaden your options now so you are not relying on a single story to drive your returns.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include CRM.

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