KeyBanc Downgrades Salesforce to Sector Weight, Sees Little Agentforce Traction

KeyBanc downgraded Salesforce (CRM) from Overweight to Sector Weight and removed its price target, according to a report from Stocktwits. The downgrade comes after analysts found little proof that the Agentforce platform is gaining speed.

Rating Change

• Previous Rating: Overweight
• New Rating: Sector Weight
• Price Target: Removed

Analyst Rationale

KeyBanc analysts believe Salesforce faces challenges in accelerating growth through Agentforce, its intelligent automation platform. They noted that evidence of customer adoption remains limited, undermining confidence in the company's growth projections.

Context

The downgrade follows Salesforce's mixed quarterly results, where revenue beat estimates but guidance fell short. CRM shares have declined about 5% over the past month amid investor concerns over slowing growth.

Conclusion

KeyBanc's rating reflects growing caution toward Salesforce amid uncertainty over Agentforce's trajectory. Investors should monitor adoption metrics in coming quarters to assess the company's potential.