New York, March 4, 2026, 13:26 (EST) — Regular session
- Salesforce shares slip in early afternoon, after bouncing around in a volatile morning session
- Software buybacks remain in focus for investors, with AI disruption worries still hanging over the sector.
- U.S. jobs numbers and the Fed’s upcoming meeting both loom in the near term.
Salesforce (CRM) dipped 0.2% to $195.73 in early afternoon action Wednesday, off roughly 32 cents so far. Shares moved in a range from $192.22 up to $198.18.
The stock’s been moving alongside jittery software peers, with investors weighing if rapid advances in artificial intelligence might threaten the subscription model that’s long fueled the industry. Attention has zeroed in on so-called agents—software that can handle queries and tasks—and the possibility they’ll reshape how customers pay for these products.
The S&P 500 software index has dropped 28% since late October, a slide that accelerated in January after Anthropic, an AI startup, rolled out new products, Reuters reported. Since Jan. 12, software firms have greenlit $70.5 billion in share buybacks—moves that reduce outstanding stock and can bump up per-share earnings. Salesforce alone upped its repurchase plan by $30 billion. Andrew Slimmon, a senior portfolio manager at Morgan Stanley Investment Management, described some of these buybacks as a bid to “stop the decline.” But Peter Tuz, president of Chase Investment Counsel, pushed back: “I don’t think the buybacks are enough.” Reuters
Salesforce ramped up its Formula 1 partnership on Tuesday with the debut of an AI “fan companion” on F1.com, designed to walk fans through the sport’s incoming 2026 technical rules. The new agent, running on Salesforce’s Agentforce platform, targets more tailored engagement with Formula 1’s worldwide fanbase. Salesforce
The company made its appearance at the Morgan Stanley Technology, Media & Telecom conference on Tuesday, where Robin Washington, chief operating and financial officer, and Joe Inzerillo, enterprise and AI technology president, were both on the speaker lineup. Investors tuned in, looking for clearer signals that Agentforce is shifting from pilot programs to generating consistent revenue.
Citi bumped its Salesforce price target up to $200 from $197, sticking with its Neutral rating after updating its model post-earnings, TheFly reported.
U.S. private employers added 63,000 jobs in February, marking the strongest monthly increase since July, according to ADP numbers released Wednesday. This comes just before the government’s official labor report drops on Friday. ADP’s track record as a predictor for the federal figures is mixed.
Federal Reserve Governor Stephen Miran told Bloomberg TV that while inflation threats tied to the Iran conflict exist, he doesn’t see them as a reason to postpone rate cuts. He did admit there are sharp disagreements within the Fed’s ranks. According to Reuters, markets anticipate the Fed will leave rates unchanged at its March 17-18 meeting, with traders now betting the first cut comes further out.
Goldman Sachs flagged the risk of a short-term pullback in global equities on Wednesday, citing stretched valuations, AI-driven disruption worries, and geopolitical tensions. Still, the bank isn’t calling for a sustained bear market.
Salesforce faces an uphill battle convincing investors that buybacks and new AI demos matter, as long as customer budgets remain shaky and markets lack evidence that agents won’t eat into per-user subscription fees. If yields jump higher, that’s yet one more drag on long-duration tech names.
Focus shifts to Friday’s U.S. payrolls data, with software names still in play after a spate of buyback news. Investors are parsing Salesforce’s remarks from the Morgan Stanley conference, plus its Formula 1 partnership, searching for signals on Agentforce’s position in corporate spending plans.
