New York, Feb 27, 2026, 11:01 EST — Regular session
- Salesforce shares fall about 3.5% in morning trade, a day after a 4% jump
- Company flagged $50 billion buyback, raised dividend and leaned on Agentforce AI metrics
- Investors watch Friday’s Agentforce webinar for more detail on growth and monetization
Salesforce (CRM) shares were down 3.5% at $192.44 in morning trading on Friday, retreating after a 4% gain in the prior session. The stock has traded around $190 to $193 so far, after closing at $199.47 on Thursday. 1
The swing is a reminder of how quickly sentiment is shifting around big software names as investors try to map “agentic” AI — software that can act on a user’s behalf — onto subscription business models. A recent rotation out of AI infrastructure and toward software has offered some relief, but it has not been steady. 2
For Salesforce, the question is blunt: does its Agentforce push turn into faster sales soon enough to justify the spend, or does the rise of AI agents make older software look less sticky. The company is also leaning harder on shareholder returns to keep investors engaged.
Salesforce said late Wednesday fourth-quarter revenue rose 12% to $11.2 billion and remaining performance obligation (RPO) — contracted revenue not yet recognized — climbed 14% to $72.4 billion. It authorized a new $50 billion share repurchase program, raised its quarterly dividend to $0.44 a share, and CEO Marc Benioff said Agentforce annual recurring revenue (ARR) hit $800 million, up 169% from a year earlier. 3
In its outlook, Salesforce forecast first-quarter revenue of $11.03 billion to $11.08 billion and non-GAAP earnings of $3.11 to $3.13 per share. It projected fiscal 2027 revenue of $45.8 billion to $46.2 billion and said the higher dividend is payable on April 23 to shareholders of record on April 9. 4
Reuters cited LSEG data showing Wall Street expected $10.99 billion of first-quarter revenue and $11.18 billion for the fourth quarter. Shares were down about 3.5% in late trade immediately after the results. 5
On the earnings call, Benioff argued the buyback was a chance to “take some of that stock back out of the market,” while pointing to more than $14 billion returned to shareholders in fiscal 2026. He also highlighted large enterprise wins, including a U.S. Army contract with a ceiling of $5.6 billion, as Salesforce tries to show demand is holding up. 6
The buyback has also turned into the debate. Some analysts see it as management drawing a line under valuation, while others say the cash would be better used for AI investment or targeted deals as growth cools. 7
Salesforce’s post-earnings pop on Thursday came alongside a bounce in other software names. ServiceNow rose 4.9% and Oracle gained 1.6% as Salesforce climbed 4.0%, MarketWatch data showed. 8
But the path is not clean. Investors have focused on whether Agentforce momentum can translate into faster organic subscription growth, while parts of Salesforce’s portfolio such as marketing, commerce and Tableau have shown softness, MarketWatch reported. 9
Salesforce leaders are scheduled to speak at an Agentforce 360 platform webinar at 11 a.m. ET on Friday, and Benioff is expected to appear later in the day. Traders will be looking for sharper detail on pricing, adoption and how quickly the company plans to put the new buyback authorization to work. 10
