Salesforce (CRM) Stock: What Wall Street Expects From Q1 Earnings Wednesday

TLDR

• Salesforce reports Q1 FY27 earnings after the bell on Wednesday, May 27
• Options traders are pricing in an ~8.7% move in either direction post-earnings
• Wall Street expects EPS of $3.13 (+21% YoY) and revenue of ~$11.05 billion (+12% YoY)
• Agentforce has reached 23,000 customers but only ~9–10% of Salesforce’s base is using it
• CRM stock is down 32% year-to-date, trading around $180 after a low of $162.30

Salesforce reports Q1 FY27 results after the market closes Wednesday, May 27. The stock is down 32% year-to-date, sitting around $180 after hitting a low of $162.30 earlier this year.

Salesforce, Inc., CRM

Options traders are pricing in a move of roughly 8.7% in either direction following the print. That’s more than double CRM’s average post-earnings move of 3.96% over the last four quarters, which tells you the market is genuinely uncertain about what comes next.

Wall Street is expecting earnings of $3.13 per share, up 21% from the same period last year. Revenue is forecast to come in at around $11.05 billion, a 12% year-over-year increase.

That revenue figure will include contributions from Informatica, which Salesforce acquired last year. The company has a long track record of beating estimates on both the top and bottom lines.

Agentforce, Salesforce’s autonomous AI agent platform, will be front and center in any post-earnings discussion. The product has hit 23,000 customers and is generating $800 million in annual recurring revenue. However, that still represents only around 9–10% of Salesforce’s total customer base.

Combined with Data Cloud, the company’s broader AI and data business has seen annual recurring revenue grow 200% year-over-year to $2.9 billion.

Analyst Views Are Split Going Into Wednesday

TD Cowen’s Derrick Wood kept his Buy rating and $250 price target. He says channel checks were mixed, but demand for Data Cloud held up and Agentforce adoption is improving. He sees in-line results and guidance this quarter, with better growth expected in the back half of the year.

Bank of America’s Tal Liani is less enthusiastic. He reinstated coverage with an Underperform rating and a $160 target, arguing that Salesforce is moving into a slower-growth phase. He’s projecting revenue growth of around 10% annually going forward.

Liani also flagged concerns about slowing customer additions, weaker upselling, and limited near-term monetization from Agentforce. He warned that AI automation could reduce the number of paid software seats over time.

UBS maintained a bullish stance but trimmed its target from $200 to $185. Citigroup cut its target to $188. The Street consensus sits at $255.42, implying upside of around 42% from current levels.

The Chart Has Something to Say Too

On the technical side, CRM has formed an inverted head-and-shoulders pattern on its chart. The stock is slowly approaching the neckline, and a breakout above it would typically point toward a move up to the $200 level.

The stock is currently trying to cross its 25-day moving average. A confirmed breakout hasn’t happened yet.

Overall Wall Street sentiment stands at a Moderate Buy, based on 27 Buy ratings, 8 Holds, and 2 Sells over the past three months.

Wednesday’s print will be watched closely for management commentary on enterprise spending, Agentforce adoption trends, and whether the company reaffirms double-digit revenue growth guidance. Q2 revenue is expected to come in around $11.36 billion, up 11% year-over-year.

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