Salesforce, Inc. CRM is seeing momentum from Slack, and rising Slackbot usage could become a growth driver. In the second quarter of fiscal 2027, Slackbot users increased more than 150% sequentially, while Slack delivered its fastest quarterly net new annual order value (NNAOV) growth since Salesforce acquired the platform.
The momentum matters because Salesforce has been working to reignite growth as its core business matures. Slack is becoming more than a collaboration tool as Salesforce adds artificial intelligence (AI) capabilities that can automate tasks and connect employees with business data.
During its second-quarterearnings call the company revealed that upgrades to premium Slack additions tripled after Slackbot launched. It also reported that bookings for Agentforce One Edition and Agentforce for Apps more than doubled quarter over quarter. These trends suggest customers are moving beyond AI trials toward higher-value offerings.
Slack’s stronger performance is already supporting Salesforce’s results. Second-quarter revenues rose 11% year over year to $11.35 billion, while subscription and support revenues increased 12% to $10.82 billion. The company cited continued strength in Slack and Agentforce as key contributors to the quarter.
Slack’s rising AI adoption gives Salesforce another path to expand customer spending. If Slackbot momentum continues, Slack could become an increasingly important catalyst for Salesforce’s growth and help support a broader acceleration in the company’s revenues over time. The Zacks Consensus Estimate for fiscal 2027 and 2028 revenues indicates year-over-year growth of 11.3% and 9.6%, respectively.
Salesforce’s Competitors Challenge Slack’s AI Momentum
Salesforce faces strong competition from Microsoft Corporation MSFT and Zoom Communications ZM as Slack evolves into an AI-powered workplace platform. Both rivals are embedding generative AI into workplace collaboration platforms to increase customer engagement and drive higher software spending.
Microsoft has integrated Copilot across Microsoft Teams and Microsoft 365, giving users AI-powered meeting summaries, content creation and workflow automation. This strategy is helping expand the value of its productivity suite.
In the fourth quarter of fiscal 2026, Microsoft reported revenues of $90 billion, up 18% year over year, while Microsoft 365 Commercial cloud revenues increased 14%. The company also reported Azure revenue growth of 43%, providing a strong foundation for continued AI investments that compete directly with Salesforce’s Slack ecosystem.
Zoom is also expanding beyond video conferencing by embedding Zoom AI Companion across meetings, chat and contact center offerings. In the second quarter of fiscal 2027, Zoom’s enterprise revenues increased 7.8% year over year to about $787.5 million, while enterprise customers generating more than $100,000 in annual revenues grew 8.2% to nearly 4,625.
Zoom is using AI to encourage customers to adopt multiple products, similar to Salesforce’s strategy of linking Slack with Agentforce and Data 360.
Salesforce’s Price Performance, Valuation and Estimates
Salesforce shares have declined 3.5% year to date, while the Zacks Internet – Software industry has risen 2.9%.
Salesforce YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, CRM trades at a forward price-to-earnings ratio of 16.01, significantly below the industry’s average of 28.78.
Salesforce Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Salesforce’s fiscal 2027 earnings implies a year-over-year increase of approximately 30.3%, while estimates for fiscal 2028 indicate a 3.4% decline. Estimates for fiscal 2027 and 2028 earnings have been revised upward in the past 30 days.
Image Source: Zacks Investment Research
Salesforce currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).
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