Salesforce Inc. (NYSE:CRM – Get Free Report) shares traded down 1.9% during mid-day trading on Friday . The company traded as low as $257.82 and last traded at $259.39. Approximately 10,332,259 shares changed hands during trading, a decline of 27% from the average daily volume of 14,082,657 shares. The stock had previously closed at $264.43.
More Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:AI growth is accelerating: Salesforce reported fiscal second-quarter revenue of $11.345 billion, up 11% year over year. Combined Agentforce and Data 360 annual recurring revenue rose more than 210% to nearly $3.9 billion, while Agentforce ARR surpassed $1.5 billion after growing more than 240%. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
- Positive Sentiment:Anthropic partnership strengthens the AI narrative: The Claudeforce collaboration, which combines Anthropic’s Claude models with Salesforce’s CRM platform, is being viewed as a potential source of new enterprise customers and revenue. Analysts argue the deal helps counter concerns that generative AI could disrupt traditional software providers. Salesforce May Have Found an Answer to the AI Disruption Threat
- Positive Sentiment:Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed a Buy rating and said business trends are improving. These calls support the view that the recent earnings momentum can continue. Cantor Fitzgerald Raises Salesforce Price Target
- Neutral Sentiment:Dividend declared: Salesforce’s board approved a quarterly dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The approximately 0.7% yield adds shareholder support but is unlikely to materially change the stock’s growth-driven valuation.
- Negative Sentiment:Valuation and technical risks are elevated: Salesforce has become one of the strongest-performing technology stocks since June, and commentary describes CRM as overbought after its earnings-driven advance. Investors may therefore be taking profits or waiting for a pullback despite the favorable fundamentals. Salesforce Could Still Go Higher Despite Being Overbought
- Negative Sentiment:Macro pressure is a headwind: Concerns that strong economic data could delay or reverse expected Federal Reserve easing have weighed on software valuations broadly, creating pressure even for companies with strong earnings and AI growth.
Wall Street Analysts Forecast Growth
CRM has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Roth Capital reaffirmed a “buy” rating and set a $325.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Argus lifted their price target on shares of Salesforce from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler lowered Salesforce from an “overweight” rating to a “neutral” rating in a report on Thursday, May 28th. Finally, TD Cowen increased their price objective on Salesforce from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.50.
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