On June 3, Salesforce fell 3.27% in regular trading, trading at $192.57/share, with trading volume of $336 million. The decline reflects continued pressure from fears that AI proliferation could disrupt the traditional software industry, compounded by the company's previously issued Q2 revenue guidance that fell short of expectations.

Salesforce guided Q2 revenue of $11.27 billion to $11.35 billion, below the Wall Street consensus of $11.4 billion. While Q1 adjusted EPS of $3.88 significantly beat the $3.12 estimate, the soft forward guidance and growing AI competition concerns continue to suppress market sentiment. The broader application software sector traded lower in sympathy, with Datadog down 8.19% and Palantir down 4.64%.

Multiple Wall Street firms recently lowered their price targets on the stock: Barclays cut to $236 from $252, Canaccord Genuity and Baird both reduced to $225 from $250, BMO lowered to $215 from $225, and Bernstein cut to $173 while maintaining an Underperform rating. The cumulative effect of weak guidance, AI disruption fears, and analyst downgrades continues to pressure shares.

(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.)