Salesforce Stock Rides High on Strong Q2 Results and Anthropic Deal

Salesforce stock has been trending upward after analyst Derrick Wood reaffirmed his Buy rating and increased his price target to $300 from $280.

The company's second-quarter financial report in late August delivered strong results, with total revenue reaching $11.35 billion, an 11% year-over-year increase that exceeded analyst expectations.

Salesforce also raised its full-year fiscal revenue guidance by $200 million to a range of $41.1 billion to $41.3 billion and lifted its non-GAAP operating margin target to 34%.

The company's partnership with Anthropic, which involves integrating Claude's reasoning models across Salesforce workflows, has been seen as a key driver of the stock's momentum.