Salesforce Inc. (NYSE:CRM) stock climbed nearly 3% on Monday as investors rotated back into large-cap technology stocks amid improving risk appetite. The Nasdaq gained 1.24%, the S&P 500 advanced 1.13%.
The move may reflect a broader sector rotation, with some investors shifting out of semiconductor and AI hardware stocks after their strong gains and into enterprise software companies that have lagged the broader technology rally.
Salesforce Technical Picture Improves
Salesforce is trading about 10% above both its 20-day and 50-day simple moving averages, signaling improving short-term momentum.
However, the stock remains roughly 8% below its 200-day moving average, while the 50-day moving average is still below the 200-day average. That suggests the longer-term trend has yet to fully recover.
Momentum indicators have improved. The MACD remains above its signal line, indicating buyers are gaining strength after the stock’s recent pullback.
Traders may watch resistance near $190.50, while support sits around $156.50.
Earnings In Focus
The next major catalyst is Salesforce’s estimated Sept. 2 earnings report.
Wall Street expects earnings of $3.09 per share, up from $2.91 a year earlier. Revenue is projected to reach $11.31 billion, compared with $10.24 billion in the prior-year quarter.
The stock carries a consensus Buy rating with an average analyst price forecast of $238.43. Recent analyst actions have been mixed. Morgan Stanley downgraded the stock to Equal-Weight and lowered its price forecast to $185 on July 21. CLSA initiated coverage with a Hold rating and a $165 price forecast on July 20. Evercore ISI maintained an Outperform rating while lowering its price forecast to $250 on July 14.
Salesforce ETF Exposure
Salesforce remains a meaningful holding in several technology-focused exchange-traded funds, including the SmartETFs Advertising & Marketing Technology ETF, the iShares Expanded Tech-Software Sector ETF and the First Trust Dow Jones Internet Index Fund. Fund inflows or outflows can influence demand for CRM shares.
CRM Stock Price Activity: Salesforce shares were up 2.76% at $189.10 at the time of publication on Monday, according to Benzinga Pro data.
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