NEW YORK, February 18, 2026, 15:09 EST — Regular session.
- Salesforce picked up roughly 1.6% in afternoon trading, recovering some ground after a volatile couple of sessions for software names.
- Citi, UBS, and Wells Fargo all lowered their price targets. BTIG also reduced its target, though it stuck with a buy rating.
- Next week, investors want to see if Agentforce demand is finally translating to growth.
Salesforce, Inc. climbed 1.6% to $187.22 during Wednesday’s afternoon session, with shares moving between $181.88 and $187.82. Oracle advanced 1.1%. ServiceNow was up 1.3%. SPY edged higher by about 0.3%, while QQQ ticked up 0.5% and the software ETF IGV added 1.1%.
Investors are watching the stock as a barometer for how much potential they see in big enterprise software riding the AI agent trend. Salesforce has pushed Agentforce, its automation tool for customer tasks, as a key area for growth. But for traders, it comes down to seeing real gains in bookings and forward guidance.
So the spotlight is on next week’s earnings call, with analysts already paring back price targets—their best guess at the stock’s ceiling for the coming year. These cuts aren’t strictly negative, but they do underscore how tightly the narrative is wound: it’s either major deals and visible AI momentum, or there’s not much else to talk about.
Citi has cut its Salesforce price target to $197, down from $257, sticking to its Neutral rating. The firm mentioned it was “tactically positive” heading into the quarter, citing what looked like an uptick in big deals. Still, they described Agentforce adoption as “underwhelming,” seeing it as a ceiling on organic growth—growth stripped of acquisitions. (TipRanks)
BTIG slashed its target to $260 from $335 but stuck with its Buy rating. In a results preview, analysts pointed out it’s still tough for software stocks to “shake off the AI disruption overhang.” (TipRanks)
UBS’s Karl Keirstead cut his price target on Salesforce to $200, down from $260, sticking with a Neutral rating after channel checks. He spoke with seven customers and partners. Feedback on Agentforce was better, and none of the customers showed interest in ditching Salesforce for AI alternatives, according to UBS. Still, the firm found no signs that backlog or revenue growth is picking up. (Investing)
Tech names bounced, with the S&P 500 software and services sector up 1.4% as the group reversed some earlier declines, according to Reuters. Even so, Paul Stanley at Granite Bay Wealth Management cautioned, “should not assume that all companies will win on the AI front.” (Reuters)
Salesforce investors are zeroing in on the numbers—big contract wins, actual pipeline conversion, and especially how executives explain Agentforce pricing. Margins are in focus as well; traders want to see evidence that automation is truly cutting costs, not just moving them around.
Still, there’s a risk if uptake doesn’t pick up or buyers hesitate to boost spending on usage-based AI products. Wells Fargo maintained its Equal Weight call but trimmed the price target to $235, citing field checks that point to “lack of upside” and noting Agentforce deployments are still moving slowly. (TipRanks)
Salesforce will release its fiscal 2026 fourth-quarter and full-year numbers on Feb. 25 after the bell, with a conference call slated for 5 p.m. ET. Traders are watching to see if the company’s guidance matches the early commentary around deals and Agentforce. (Businesswire)
