Stocks
CRM Soars as Salesforce Delivers Record Results and Ramps Up AI Efforts
Salesforce's stock price surged by 21.92% on strong cloud demand and upbeat AI-driven revenue outlook.
The company delivered record Q2 FY27 results, with double-digit revenue and cRPO growth, strong free cash flow, and a large buyback.
Management raised fiscal 2027 adjusted EPS guidance to $16.67-$16.71, well above the $14.16 Street view, while nudging FY27 revenue guidance higher.
The company's AI-related ARR is nearing $4B, backed by the strongest net new annualized value growth in four years and expectations for second-half revenue reacceleration.
CRM shares spiked about 13-14% after the earnings beat and AI news, as BMO, Truist, and Oppenheimer reiterated bullish ratings and higher or reaffirmed price targets.