Salesforce Inc (NYSE:CRM) shares tanked in early trading on Thursday, after the company reported its fourth-quarter results.

The results came in amid an exciting earnings season. Here are some key analyst takeaways.

Needham On Salesforce

Analyst Scott Berg reaffirmed a Buy rating and price target of $400.

Salesforce reported fourth-quarter revenue of $10 billion and $1.75 per share, Berg said in a note. Total revenue grew by 7.6% year-on-year, 9% in constant currency terms, with subscription revenue growing 8%, he added.

CRPO (current remaining performance obligation) grew 9.4% year-on-year to $30.2 billion, benefitting from "strength in Data Cloud and AI along with early renewals," the analyst wrote. Management guided to revenue in the range of $40.5 billion to $40.9 billion for fiscal 2026, representing 7.4% growth at the midpoint, well below consensus of 9.2% growth to $41.375 billion, he further stated.

Check out other analyst stock ratings.

JPMorgan On Salesforce

Analyst Mark Murphy reiterated an Overweight rating and price target of $380.

Salesforce's total revenue came in below expectation in U.S. dollar terms but ahead in constant currency terms, while Subscription & Support revenue was below on a USD basis and in-line in constant currency terms, Murphy said. The fourth-quarter results were "encouraging, with cRPO CC growth accelerating from 10% in Q3 to 11% in Q4," he added.

Management's cRPO growth guidance in constant currency terms came in ahead of Street expectations, which is "important as cRPO is viewed as the key leading indicator for Salesforce," the analyst wrote. The revenue guidance miss is "relatively innocuous," while the Subscription & Support revenue growth guidance is only below consensus by around 0.5%, he further stated.

Guggenheim Securities On Salesforce

Analyst John DiFucci maintained a Sell rating and price target of $247.

Salesforce's total revenue of $9.993 billion missed consensus estimate of $10.044 billion, "which was partially driven by incremental FX headwinds, DiFucci said. Subscription revenue of $9.451 billion came in 70 basis points below Street estimates, while Professional Services revenue beat expectations by 3%, he added.

While management's total revenue guidance for the first quarter appears conservative, their full-year guidance calls for 32% new ACV (annual contract value) growth, the analyst stated. "CRM hasn't seen that level of New ACV growth since 2017 when it was a very different company (i.e., much better positioned)," he further wrote.

CRM Price Action: Shares of Salesforce had declined by 1.17% to $303.74 at the time of publication on Thursday.

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