Salesforce's Big Upside: Why Analysts Remain Bullish

Katrin Wolf · 2026-02-18

Let's be honest, the last year or so has been a bit of a rollercoaster for SaaS stocks, hasn't it? Rising interest rates, shifting budgets, that general feeling of uncertainty. It's been enough to make anyone a little nervous about the whole sector. But here's the thing. While some investors got spooked and headed for the exits, a lot of the smart money—the analysts who live and breathe this stuff—are looking at a company like Salesforce and seeing something different. They're not just seeing stability; they're seeing significant upside potential. Why? Well, it's not just one thing. It's a combination of factors that make this CRM giant look more like a coiled spring than a fading star. ### The Foundation Is Stronger Than Ever First, you have to look at the core business. Salesforce isn't some flash-in-the-pan startup. It's the undisputed leader in the CRM space, with a market share that's the envy of every competitor. When businesses think about managing customer relationships, Salesforce is often the first name that comes to mind. That kind of brand recognition and trust isn't built overnight, and it creates a powerful moat. More importantly, they've built an ecosystem that customers rely on. It's not just about tracking leads anymore. It's a full platform for sales, service, marketing, and analytics. Once a company is embedded in that system, switching costs become incredibly high. You're not just changing software; you're upending workflows and retraining teams. That creates incredible customer loyalty and predictable, recurring revenue. ### Navigating the New Economic Reality Sure, growth might have moderated from the breakneck pace of 2021. But that's not necessarily a bad thing. In fact, it's a sign of a maturing, disciplined company. Salesforce has been focused on improving profitability and operating margins, showing investors they can deliver efficient growth even when the macroeconomic winds aren't at their back. They've made tough calls, like restructuring and focusing resources on their most profitable segments. This isn't about cutting for the sake of cutting; it's about sharpening the axe. The goal is to emerge from this period leaner, more focused, and ready to capitalize when conditions improve. Analysts see this operational discipline as a major positive signal. ### Where's the Growth Coming From? So if the core is solid and they're running a tighter ship, where will the big upside come from? Analysts point to a few key areas: - **Data Cloud and AI:** This is the big one. Salesforce has been aggressively integrating artificial intelligence across its platform with Einstein AI. The ability to offer predictive insights, automate tasks, and deliver hyper-personalized experiences is a massive value-add for customers. It transforms the platform from a system of record to a system of intelligence. - **Industry-Specific Solutions:** Their vertical cloud strategy, targeting industries like healthcare, financial services, and manufacturing, is opening up new, lucrative markets. These tailored solutions command higher prices and deepen customer relationships. - **International Expansion:** There's still a long runway for growth outside the United States, particularly in emerging markets where digital transformation is accelerating. As one industry watcher recently noted, "The recent pressure has forced a focus on fundamentals that often gets lost in a bull market. The company that emerges is usually stronger." ### The Bottom Line for SaaS Professionals What does this mean for you, if you're in the SaaS or CRM world? It's a case study in resilience. Salesforce's situation reminds us that long-term success isn't about avoiding downturns; it's about how you navigate them. By strengthening the core, improving efficiency, and betting big on the next wave of innovation (AI), they've positioned themselves not just to survive, but to thrive when the cycle turns. The analysts seeing upside aren't ignoring the challenges. They're weighing them against a formidable market position, a strategic pivot to profitability, and several clear paths to renewed growth. In a market that's punished hype, they're betting on substance. And right now, Salesforce has plenty of it.