Salesforce shares fell 2.98% to $184.06 on February 17, 2026. UBS lowered its price target to $200 from $260 with a Neutral rating. Oppenheimer reduced its target to $275 from $300 while maintaining an Outperform rating. Mizuho cut its price target to $280 from $340, keeping its Outperform rating. Analysts cited muted core growth and compression of software valuation multiples as primary drivers for the adjustments.
The launch of Alibaba’s Qwen 3.5 AI model intensified concerns regarding disruption across the enterprise software landscape. This pressure extended to peer stocks, with Adobe and CrowdStrike declining between 2% and 5%. Salesforce hit an intraday low of $185.35 during the session.
Investors are looking ahead to the Q4 fiscal 2026 earnings report scheduled for February 25. Market expectations for growth guidance remain low amid broader sector weakness.