With a market cap of $256.6 billion, Salesforce, Inc. (CRM) is the global leader in on-demand Customer Relationship Management (CRM) software, enabling businesses of all sizes to connect with customers through cloud, mobile, social, IoT, and AI technologies. It offers solutions like Agentforce, Data Cloud, Industries AI, Salesforce Starter, Slack, Tableau, and analytics tools for sales, service, marketing, and commerce.

Companies worth more than $200 billion are generally labeled as “mega-cap” stocks and Salesforce fits this criterion perfectly. Salesforce generates revenue primarily through two streams: Subscription & Support, which includes cloud services and software licenses, and Professional Services & Other, encompassing consulting, training, and implementation services.

Shares of the San Francisco, California-based company declined 27.7% from its 52-week high of $369. Shares of Salesforce have dipped 10.4% over the past three months, which is a more pronounced decline than the broader S&P 500 Index’s ($SPX) marginal decline over the same time frame. 

In the longer term, the cloud computing giant stock is down 20.2% on a YTD basis, lagging behind SPX’s marginal rise. Moreover, shares of Salesforce have dropped 1.1% over the past 52 weeks, compared to the 11.4% return of the SPX over the same time frame.

Despite recent fluctuations, CRM stock has been trading below its 50-day moving average since February. In addition, the stock has fallen below its 200-day moving average since March.

Despite beating Q1 2026 expectations with adjusted EPS of $2.58 and revenue of $9.8 billion on May 28, Salesforce shares fell 3.3% the next day due to concerns over slowing core cloud growth and a softer-than-expected Q2 CRPO outlook. While Q1 CRPO rose 12% to $29.6 billion, the Q2 guide implied single-digit constant currency CRPO growth. Additionally, the fiscal 2026 revenue guidance, although slightly raised to $41 billion - $41.3 billion, was driven in part by currency tailwinds.

CRM has underperformed its rival, Intuit Inc. (INTU). Shares of Intuit have increased 26.2% over the past 52 weeks and 20.5% on a YTD basis. 

Despite Salesforce’s weak performance, analysts remain bullish about its prospects. CRM stock has a consensus rating of “Strong Buy” from the 47 analysts covering the stock, and as of writing, it is trading below the mean price target of $362.77.