Shares of Salesforce Inc (NYSE:CRM) are trending Tuesday after TD Cowen analyst Derrick Wood reiterated a Buy rating and lifted his price target to $300 from $280.
The stock has mounted a 40% surge from its August lows following blockbuster quarterly results, an aggressive guidance raise and accelerating enterprise adoption of its proprietary AI platform.
- Salesforce stock is showing positive momentum. Where is CRM stock headed?
Strong Q2 Results, Anthropic Deal Drive Momentum
The core engine behind the stock’s recent surge was Salesforce’s late-August second-quarter financial report. The software giant delivered total revenue of $11.35 billion, an 11% year-over-year increase that topped analyst expectations, driven by accelerated current remaining performance obligations growth of 14% in constant currency to $29.4 billion.
Bolstered by expanding operating leverage across its core Data Cloud and enterprise AI segments, management raised its full-year fiscal revenue guidance by $200 million ($300 million in constant currency) to a range of $41.1 billion to $41.3 billion, while lifting its full-year non-GAAP operating margin target to 34%.
Reinforcing its enterprise AI strategy alongside earnings, Salesforce expanded its strategic partnership with Anthropic to launch “Claudeforce.” The integration embeds Claude’s reasoning models across Salesforce workflows, Agentforce and Slack, debuting a dedicated plugin featuring 37 pre-built sales skills for pipeline analysis, meeting prep and deal management.
To power internal development across its 15,000 engineers, Salesforce expects to spend roughly $300 million on Anthropic tokens in 2026. CEO Marc Benioff praised the second-quarter as one of the best quarters in company history, noting alongside Anthropic CEO Dario Amodei that pairing Claude’s reasoning with Salesforce’s enterprise data enables AI agents to execute governed business actions rather than just answering questions.
CRM Shares Trade Flat Tuesday Morning
CRM Price Action: Salesforce shares were down 0.03% at $257.47 at the time of publication on Tuesday. The stock is trading near 52-week highs of $269.11, according to Benzinga Pro data.
CRM is extended above its trend gauges, trading 22.1% above the 20-day SMA ($210.48) and 28.2% above the 200-day SMA ($200.45), which is classic "strong trend, but stretched" behavior. The shorter-term structure is bullish (20-day SMA above the 50-day SMA), but the longer-term crossover picture is still mixed with the 50-day SMA below the 200-day SMA.
RSI is the cleanest momentum read right now: at 81.89, it’s firmly overbought, which signals the move is getting stretched and more vulnerable to pullbacks or sideways digestion. RSI measures how extended the recent buying/selling has become, and readings this high often mean upside can slow even if the bigger trend stays intact.
- Key Resistance: $267.50 — a nearby ceiling just below the 52-week high area, where momentum runs can stall
- Key Support: $252.00 — a recent pivot zone that sits close enough to matter if the stock cools off from overbought levels
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