On July 14, Salesforce fell 3.48% in pre-market trading, trading at approximately $164.46/share, with turnover of $3.86 million. The decline comes as Evercore ISI lowered its target price on Salesforce from $260 to $250 while maintaining an outperform rating.

The target price cut adds to a string of analyst downgrades weighing on the stock. Bernstein previously downgraded Salesforce from outperform to market perform, citing weak customer feedback on the company's AI product Agentforce. KeyBanc also downgraded the stock from overweight to sector weight. The consensus mean target price among analysts now stands at approximately $240.88.

Despite positive developments including a $13.5 billion U.S. Air Force fleet modernization contract and a deepened AI partnership with Anthropic, the successive downgrades reflect growing market skepticism over the near-term monetization trajectory of Salesforce's AI agent offerings, pressuring shares in pre-market trading.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)