Salesforce Stock Soars After Record Q2 Results and Raised Guidance

Salesforce stock has been on a strong run after the company reported record Q2 results and raised its guidance for fiscal 2027. The stock is trading at around $257.54 as of August 31, 2026, close to its recent closing high.

The company reported revenue of $11.34 billion in Q2, an increase of nearly 11% year over year, and slightly above the consensus estimate of $11.31 billion. Adjusted net income reached $3.53 billion, translating into adjusted earnings per share of $5.90, a 103% increase from last year's $2.91.

Salesforce also reported a 71% rise in operating cash flow to $1.3 billion and an 81% jump in free cash flow to $1.1 billion. The company's current remaining performance obligations increased by 14% to $33.5 billion, indicating a growing backlog of contracted future revenue.

The company raised its fiscal 2027 revenue guidance to a range of $46.1 billion to $46.4 billion, implying around 11% growth versus the prior year. It also lifted its fiscal 2027 adjusted EPS guidance to between $16.67 and $16.71, up from a previous range of $14.06 to $14.12.

Analysts have been adjusting their price targets for Salesforce stock after the company's strong Q2 results. CICC has increased its price target to $304 from $200 while maintaining an outperform rating. The Wall Street consensus stands at around $244.02 per share, which is already below the recent spot price of around $256.