Citi Cuts Salesforce Price Target to $188 on Weak Enterprise Spending

Citi cut its price target on Salesforce Inc. to $188 from $200, signaling reduced confidence in the company's near-term growth prospects as enterprise software spending shows signs of weakness across the sector. The stock traded at $167.58 on Thursday, May 14, 2026, up 1.05% from the prior close.

By the Numbers

• New Citi price target: $188 (down from $200)
• Current stock price: $167.58
• Forward P/E (TTM — may not reflect latest quarter): 11.22x
• Revenue growth (TTM): 12.1%
• Operating margin (TTM): 19.24%

Why It Matters

Citi's downward revision reflects deteriorating demand signals in the enterprise software market. The analyst cited "weak enterprise software spending trends" as the primary driver of the cut, suggesting that corporate customers are either deferring software purchases or pulling back on expansion initiatives. This macro backdrop weighs on Salesforce's visibility and near-term growth acceleration.

Although Salesforce still trades below Citi's revised $188 target, the reduction narrows the upside potential from current levels and indicates that analyst sentiment on the stock is becoming more cautious.

Investor Takeaway

Citi's price target cut reflects broader softness in enterprise technology spending, not a company-specific problem. Salesforce's trailing-twelve-month metrics — 12.1% revenue growth and 19.24% operating margin — remain solid, but the analyst's concern centers on forward visibility in a tightening spending environment.