Salesforce Inc. (NYSE:CRM) stock is surging Thursday, extending a rally that began after the company reported fiscal second-quarter 2027 earnings on Aug. 26.
Today, the Nasdaq is up 1.39% while the S&P 500 has gained 1.03%.
The broader enterprise software sector is experiencing a strong wave of positive sentiment today, largely buoyed by strong earnings and accelerating AI demand across the industry; hence, Salesforce and its peers like Oracle Inc (NYSE:ORCL) and ServiceNow, Inc. (NYSE:NOW) are trading higher on positive action.
Salesforce Beats On Revenue And Earnings
Last week, Salesforce posted second-quarter revenue of $11.35 billion, above the $11.32 billion consensus estimate. Adjusted earnings came in at $5.90 per share, versus estimates of $3.27 per share. Revenue rose 11% year-over-year, and total remaining performance obligations reached $66.5 billion, also up 11% year-over-year.
“We just delivered one of our best quarters ever, outperforming across every key metric,” said Marc Benioff, chair and CEO of Salesforce. “AI is delivering value across every layer of our platform. We’re seeing incredible demand for our AI and data products, with ARR about to cross $4 billion.”
Anthropic Partnership
Alongside earnings, Salesforce announced a “Claudeforce” partnership with Anthropic. “By fusing Claude’s extraordinary reasoning with the trusted data, workflows, and governance every enterprise runs on, we’re delivering a dynamic interface that thinks, reasons, and acts. This is how every business will run,” Benioff said.
Analysts Raise Price Forecasts
Following the results, Cantor Fitzgerald raised its rating to Overweight with a $300 price forecast on Wednesday. BTIG maintained its Buy rating with a $300 forecast the same day, while Needham maintained its Buy rating with a $400 forecast.
Technical Analysis
CRM is extended above its key trend gauges, trading 22.2% above the 20-day SMA ($217.69) and 32.6% above the 200-day SMA ($200.64), which signals a strong intermediate uptrend but also a stretched setup. The 20-day SMA remains above the 50-day SMA (bullish), yet the 50-day SMA is still below the 200-day SMA (a lingering bearish longer-term crossover that hasn’t fully reset).
RSI is the clearest momentum read right now at 82.98, which flags overbought conditions and raises the odds of a pause or pullback even if the bigger trend stays constructive.
- Key Resistance: $267.50 — a nearby ceiling near current prices where a push can stall, especially with the stock already close to its 52-week high ($269.11)
- Key Support: $252 — a nearby area where buyers previously stepped in, and a level that would matter if the stock cools off from overbought momentum
CRM Stock Price Activity: Salesforce shares were up 3.98% at $267.14 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: NYCStock / Shutterstock.com
