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Sentiment · FY2027 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Now on the other hand, not all of Salesforce projects are going so well, and they're different.”
Veeva contrasted its stable Vault CRM migrations against customers who chose to build custom CRM on Salesforce, framing those Salesforce-based projects as struggling.
“You also asked about the royalty payments to Salesforce, and those will wind down as customers roll off of Salesforce. So once everybody is off, then those payments will stop.”
Veeva's legacy CRM ran on Salesforce; as customers migrate to Vault CRM, Veeva's royalty payments to Salesforce wind down and eventually stop, a declining revenue stream for Salesforce.
“what we're seeing Salesforce is, you know, kind of just entering. They have a very new product in the CRM space.”
Salesforce is competing in pharma CRM and won roughly six of Veeva's top-20 CRM customers, though Veeva characterizes Salesforce's offering as a new, incomplete product — a competitive read-through for Salesforce in life-sciences CRM.
“These are three products that salesforce.com does not have.”
Oracle positions its new AI-built CX applications and full stack as capabilities Salesforce lacks, framing Salesforce as behind in AI-era CX.
“Salesforce, a long-time HCM customer, went live on Workday Financial Management and Accounting Center in the quarter.”
Salesforce, already a Workday HCM customer, went live on Workday's financials, unifying its HR and finance data on Workday's platform.
“So just to give you the full picture, the latest is Veeva Systems Inc. has nine top 20 wins. Salesforce is at three.”
Veeva reports leading Salesforce nine to three in top-20 pharma CRM commitments, framing Salesforce's wins as unproven with go-lives years away, a negative competitive read-through on Salesforce Life Sciences CRM.
“you have, you know, Salesforce that's kind of a dominant player in the large enterprise space then you have HubSpot that's kind of emerged on the scene here in SMB.”
An analyst frames Salesforce as the dominant incumbent in large-enterprise CRM when asking Veeva about its rationale for entering the horizontal CRM market.
“Yes, I mean, we continue to work on that partnership with Salesforce. As a matter of fact, I'd say we - a lot of what we've done there early days was cutting our teeth and has actually, I think, been instrumental in some of the innovation that we just recently-announced in terms of Agent System of Record and actually understanding and working with them through issues like how do you get an agent from Salesforce to talk to an agent on the Workday side.”
Workday's agent-interoperability partnership with Salesforce, announced the prior year, directly informed the design of Workday's newly launched Agent System of Record; management calls the partnership early-stage but going well.
“Salesforce.com doesn't have a product yet. So you're really signing up for sort of a custom build, it takes a long time and a certain IT skill set. Most customers don't want that.”
Veeva argues Salesforce lacks a purpose-built AI product for life-sciences CRM, forcing customers into costly custom builds most don't want, positioning Vault CRM as the faster path to AI.
“If they pick our back office applications, they'll sometimes pick our front office applications over Salesforce.”
Ellison says customers who adopt Oracle's back-office suite are increasingly choosing Oracle's front-office applications over Salesforce, framing Salesforce as a competitor losing bundled deals.
“Finally, with Salesforce and ServiceNow, we are embedding our agentic networks directly into our client's primary enterprise workflows.”
Cognizant embeds its agentic networks into Salesforce as a primary enterprise workflow layer.
“is the integration of Doc Intelligence with Salesforce.”
S&P integrated its Document Intelligence AI with Salesforce, a workflow distribution tie-in.
“PayPal is a huge customer in sales, B2B and also service, call center, contact center.”
PayPal is described as a large Salesforce customer across sales and service that has deployed Agentforce to improve merchant onboarding conversion.
“I had one of our customers over last night, Aneel Bhusri Workday. I'm like, have you seen SlackBot? Aneel is like, no, I haven't seen it yet. I'm like, you're the biggest Slack customer we have.”
Workday is cited as Salesforce's biggest Slack customer, with CEO Aneel Bhusri; also referenced as a partner whose agents interoperate with Salesforce.
“Our newest addition to our portfolio, Informatica, landed in 6 of those top 10 wins, proving it is a critical component of us building the data foundation for the Agentic enterprise.”
Salesforce's acquired Informatica contributed $1.1B in cloud ARR and featured in 6 of the top 10 deals, central to the Data 360 data foundation.
“By the way, Anthropic runs its whole global operation on Salesforce and Slack”
Anthropic is cited as a Salesforce and Slack customer running its global operations on the platform, and a partner whose Claude model powers Slackbot.
“we just put another $100 million into the new round. We're up about $330 million in Anthropic invested. It's almost about 1% of Anthropic.”
Salesforce increased its equity investment in Anthropic to roughly $330 million, about 1% of the company.
“they're leaving Veeva, purgatory Veeva, including AstraZeneca, Novartis, Takeda and of course, Albert at Pfizer. They're all saying that they are going to Salesforce Life Sciences”
Salesforce claims major pharma customers are switching from Veeva to its new Agentforce for Life Sciences product, a direct competitive threat to Veeva's core life-sciences CRM.
“I especially love 5 customers who got to leave the purgatory of ServiceNow, like Sunrun, Cornerstone, CoolSystems, and there's others, too, that we're not allowed to mention, but I might mention them anyway.”
Salesforce claims competitive wins displacing ServiceNow's ITSM with its new Salesforce IT Service product, naming several customers that switched.
“We saw that in OpenAI's recent announcement that we were in their trillion token club.”
Salesforce is in OpenAI's 'trillion token club,' indicating it is a very large consumer of OpenAI's models via its LLM gateway (Salesforce treats LLM vendors as swappable commodities).
“Great companies like Uber, like Conagra, like LY, like Williams Sonoma, like all these great companies that we've been talking about.”
Uber is cited among companies now in production with AgentForce, which grew 70% quarter over quarter.
“CVS Health and Telecom Argentina and TD Bank and the IRS, somebody who's gonna be getting a big check from all of us.”
CVS Health is named among new AgentForce customer wins in the quarter.
“So Dentsu, Moody's, KPMG, Ferguson, Zoom, and dozens more invested in data three sixty in the quarter.”
Moody's is named among the customers that invested in Salesforce Data 360 during the quarter.
“Heavily invested with Accenture, Deloitte, PwC, and other global partners, to really ensure that we also jointly partner with them”
Accenture is among the global SI partners co-selling and co-deploying Salesforce's agentic enterprise solutions.
Salesforce closed FY2026 with Q4 revenue surging 12% year-over-year in a record bookings quarter, with Agentforce reaching $800 million in ARR across 29,000 deals. CRPO rose to $35.1 billion, up 16%, and the company raised its FY2030 revenue target to $63 billion. A $50 billion buyback program and record capital return were announced. New FY2027 guidance was introduced targeting revenue of $45.8 to $46.2 billion, representing 10% to 11% growth with non-GAAP margin of 34.3%.
Cloud & AI | Demand | Competitive Dynamics | Revenue Growth | Innovation & R&D | Labor Market | Pricing | M&A | |
|---|---|---|---|---|---|---|---|---|
| 2025Q3 | 4 | 1 | 3 | 1 | 1 | 1 | ||
| 2025Q4 | 4 | 3 | 3 | 1 | 1 | 1 | 1 | |
| 2026Q1 | 6 | 5 | 1 | 2 | 2 | 1 | 1 | |
| 2026Q2 | 3 | 3 | 3 | 3 | 1 | 2 | 1 | |
| 2026Q3 | 4 | 4 | 3 | 4 | 1 | 1 | 1 | |
| 2026Q4 | 4 | 2 | 2 | 1 | 1 | 1 | ||
| 2027Q1 | 4 | 3 | 1 | 2 | 2 |
| '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | '26Q4 | '27Q1 | |
|---|---|---|---|---|---|---|---|
| Cloud & AI | 4 | 4 | 6 | 3 | 4 | 4 | 4 |
| Demand | 1 | 3 | 5 | 3 | 4 | 2 | 3 |
| Competitive Dynamics | 3 | 3 | 1 | 3 | 3 | 2 | 1 |
| Revenue Growth | 1 | 1 | 2 | 3 | 4 | 1 | 2 |
| Innovation & R&D | 1 | 1 | 2 | 1 | 1 | 2 | |
| Labor Market | 1 | 1 | 2 | 1 | |||
| Pricing | 1 | 1 | 1 | 1 | |||
| M&A | 1 | 1 | 1 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Keith Weiss | Morgan Stanley | 7 (29%) |
| Brent Thill | Jefferies | 7 (14%) |
| Kirk Materne | Evercore ISI | 6 (17%) |
| Raimo Lenschow | Barclays | 6 (0%) |
| Brad Zelnick | Deutsche Bank | 4 (0%) |
| Mark Murphy | JPMorgan | 3 (0%) |
| Kash Rangan | Goldman Sachs | 3 (67%) |
| Brad Sills | Bank of America | 2 (0%) |
| Gabriela Borges | Goldman Sachs | 2 (50%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 7 (14%) |
| Morgan Stanley | 1 | 7 (29%) |
| Barclays | 1 | 6 (0%) |
| Evercore ISI | 1 |
| 6 (17%) |
| Goldman Sachs | 2 | 5 (60%) |
| Deutsche Bank | 1 | 4 (0%) |
| JPMorgan | 1 | 3 (0%) |
| Bank of America | 1 | 2 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CRM Salesforce, Inc. | 9 | +13.3% | |
| ADSK Autodesk | 10 | +18.4% | |
| APP Applovin Corp | 9 | +24.1% | |
| CDNS Cadence Design Systems | 9 | +18.7% | |
| DDOG Datadog | 10 | +32.1% | |
| FICO Fair Isaac | 9 | +38.7% | |
| INTU Intuit | 9 | +10.4% | |
| MSTR MicroStrategy Inc. | 7 | +11.9% | |
| NOW ServiceNow | 7 | +22.1% | |
| PTC PTC Inc. | 9 | +21.7% | |
| SHOP Shopify | 8 | +34.3% | |
| TEAM Atlassian | 7 | +31.7% | |
| TTD The Trade Desk, Inc. | 8 | +11.8% | |
| TYL Tyler Technologies | 8 | +8.6% | |
| UBER Uber | 8 | +14.5% | |
| WDAY Workday, Inc. | 9 | +13.5% |