Salesforce, Inc. CRM and Adobe Inc. ADBE are two of the biggest names in enterprise software. Both companies are benefiting from businesses spending more on digital transformation and artificial intelligence (AI). Salesforce continues to dominate the customer relationship management (CRM) market, while Adobe remains the leader in creative software and digital document solutions.
The next phase of growth for both companies depends heavily on AI. Each is investing aggressively to make AI a core part of its products, improve customer experience and create new revenue opportunities. But when it comes to choosing the better stock today, which one stands out? Let’s take a closer look.
The Case for Salesforce Stock
Salesforce has remained the world's leading CRM provider for years, according to Gartner. However, the company is no longer satisfied with being just a CRM leader. It is steadily transforming itself into a broader enterprise software platform that combines customer data, collaboration and AI.
The company's acquisition strategy reflects this vision. Large deals like Slack and Informatica have expanded Salesforce's enterprise ecosystem, while smaller acquisitions such as Doti AI and Spindle AI strengthen its AI capabilities. These moves show that management is focused on keeping Salesforce ahead in the fast-changing AI race.
AI has become the biggest growth driver for Salesforce. The company has integrated generative AI across its platform to help businesses automate routine tasks, improve decision-making and deliver better customer experiences.
Its newest AI platform, Agentforce, is proving that customers are embracing these capabilities. In the first quarter of fiscal 2027, Agentforce's annual recurring revenues (ARR) jumped 205% year over year to $1.2 billion. Combined AI and Data ARR, which includes Agentforce, Data 360 and Informatica Cloud, climbed to $3.4 billion, more than three times the level reported a year ago. These numbers suggest that AI is becoming a meaningful revenue contributor rather than just a future opportunity.
Salesforce's financial performance remains equally impressive. In the first quarter of fiscal 2027, revenues increased 13% year over year, while non-GAAP earnings per share (EPS) surged 50%. The growth momentum is likely to continue as the Zacks Consensus Estimate for fiscal 2027 revenues and EPS indicates a year-over-year increase of 11% and 12.8%, respectively.
Salesforce, Inc. Price, Consensus and EPS Surprise
Salesforce, Inc. price-consensus-eps-surprise-chart | Salesforce, Inc. Quote
The Case for Adobe Stock
Adobe is also making impressive progress in AI. The company continues to strengthen its Creative Cloud and Acrobat businesses by embedding AI into products that millions of users rely on every day. AI-powered offerings like Firefly and Acrobat AI Assistant are helping Adobe improve productivity while making content creation faster and easier.
Adobe is also introducing conversational and AI agent-based features across Reader, Acrobat and Express. These enhancements simplify everyday tasks for users while making Adobe's software even more valuable for creative professionals. As a result, customer engagement and product adoption continue to improve.
Firefly has become one of Adobe's strongest AI growth engines. The platform is now deeply integrated across major creative applications such as Photoshop, Illustrator and Premiere while also supporting third-party AI models. New offerings, including Photoshop Mobile and Premiere Mobile with YouTube integration, further strengthen Adobe's ecosystem by allowing creators to produce content from virtually anywhere.
Another important advantage is Adobe's expanding AI partner network. The company has built integrations with leading AI platforms such as Amazon Web Services, Microsoft Azure, Google Gemini, Microsoft Copilot and OpenAI. Firefly also supports models from several AI startups, giving customers greater flexibility when creating content. In the second quarter of fiscal 2026, Firefly's ARR increased 50% sequentially, highlighting the growing demand for Adobe's AI tools.
Adobe continues to deliver healthy financial results as well. During the second quarter of fiscal 2026, revenues grew 13% year over year, while earnings per share increased 18%. The growth momentum is likely to continue as the Zacks Consensus Estimate for fiscal 2026 revenues and EPS indicates a year-over-year increase of 11.6% and 16.1%, respectively.
Adobe Inc. Price, Consensus and EPS Surprise
Adobe Inc. price-consensus-eps-surprise-chart | Adobe Inc. Quote
CRM vs. ADBE: Earnings Estimate Revision Trend
Both Salesforce and Adobe are benefiting from rising AI adoption, but analysts appear more optimistic about Salesforce's earnings outlook.
Over the past 60 days, analysts have raised the Zacks Consensus Estimate for Salesforce's fiscal 2027 and 2028 earnings by 7.13% and 4.87%, respectively. These meaningful upward revisions reflect growing confidence that Salesforce's AI initiatives will continue to support earnings growth.
Adobe is also seeing positive estimate revisions, although the magnitude is relatively smaller. During the past 60 days, the consensus estimate for fiscal 2026 and 2027 earnings has increased by 3.40% and 3.24%, respectively. While this remains encouraging, it suggests that analysts currently see stronger earnings momentum at Salesforce.
CRM vs. ADBE: Price Performance and Valuation
Both stocks have struggled this year as investors rotated away from expensive technology names. Salesforce shares have fallen 34.4% year to date, while Adobe has declined 32.9%. The similar pullback indicates that market sentiment has weighed on both companies despite their solid business fundamentals.
Image Source: Zacks Investment Research
Salesforce also looks more attractive from a valuation perspective. The stock currently trades at 2.96 times forward 12-month sales compared with Adobe's multiple of 3.33. Given Salesforce's improving AI business, stronger earnings momentum and lower valuation, the stock appears to offer a more favorable risk-reward profile.
Image Source: Zacks Investment Research
Conclusion: CRM Has the Edge Over ADBE
Salesforce and Adobe are both well-positioned to benefit from the rapid adoption of AI, and each company has built a strong competitive position in its respective market. Salesforce is evolving into a broad enterprise AI platform, while Adobe continues to strengthen its leadership in creative software through AI-powered innovation.
However, Salesforce appears to have a slight advantage at current levels. The company is delivering stronger earnings estimate revisions, its AI business is scaling rapidly, and the stock trades at a more attractive valuation than Adobe. While Adobe remains a high-quality long-term investment, Salesforce currently offers the stronger overall investment case.
Salesforce and Adobe each carry a Zacks Rank #3 (Hold) at present. 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).