SAN FRANCISCO, August 24, 2026, 16:10 EDT — U.S. regular trading has ended.
- At 15:39 EDT on Monday, Salesforce shares were up 0.39% at $209.99.
- Options implied an earnings swing of around 7%, representing roughly $12.0 billion in market capitalization.
- The consensus for revenue stands just $10 million higher than the midpoint in Salesforce’s outlook.
Shares of Salesforce Inc. NYSE:CRM gained ahead of its Wednesday results, while options suggest a significantly bigger swing following the earnings release. The stock traded at $209.99 as of 15:39 EDT, rising 0.39%.
A 7% shift corresponds to approximately $14.70 per share. With the current market capitalization at $172.12 billion, this translates to around $12.0 billion up or down. The options-implied trading band spans from roughly $195.29 to $224.69.
The near-term target is notably tight. Wall Street forecasts $11.32 billion in revenue, while Salesforce projects a range between $11.27 billion and $11.35 billion. The consensus sits just $10 million, or 0.09%, over the midpoint.
| Q2 FY2027 measure | Company guidance | Market estimate | Year-earlier result |
|---|---|---|---|
| Revenue | $11.27B–$11.35B | $11.32B–$11.33B | $10.24B |
| Adjusted EPS | $3.25–$3.27 | $3.27–$3.28 | $2.91 |
| cRPO growth | Approximately 14%; 13% in constant currency | Above 13% | 11% |
This places greater emphasis on the quality of growth over a minor earnings beat. First-quarter revenue increased by 13.3% to $11.13 billion. Salesforce reported that Informatica added $444 million to the total.
Removing that portion results in a figure of $10.69 billion. Compared to $9.83 billion a year earlier, the adjusted ex-Informatica rise is approximately 8.7%. While not an organic metric as defined by the company, this demonstrates why a clear growth comparison is important for investors.
| Q1 FY2027 revenue breakdown | Value |
|---|---|
| Revenue as reported | $11.133B |
| Subtract stated Informatica input | ($0.444B) |
| Revenue excluding Informatica, simplified | $10.689B |
| For comparison: Q1 FY2026 | $9.829B |
| Growth excluding Informatica, simplified | About 8.7% |
Current remaining performance obligation, or cRPO, represents contracted revenue anticipated over the next year. Last quarter, it increased by 14% to reach $33.6 billion. Salesforce projected a similar reported growth rate for Q2.
Agentforce provides support for the bull case, posting annual recurring revenue of $1.2 billion, an increase of 205%. Together, Agentforce and Data 360 generated almost $3.4 billion in ARR. CEO Marc Benioff stated Agentforce was “powering every Customer 360 application.” Salesforce
The counterbalancing argument is underlying momentum. The company anticipates organic revenue growth picking up in the second half. As a result, investors will assess Agentforce bookings in comparison to weaker segments like Tableau and MuleSoft.
| Stock | Price at 15:39 EDT | Monday move |
|---|---|---|
| Salesforce NYSE:CRM | $209.99 | up 0.39% |
| ServiceNow NYSE:NOW | $128.71 | up 0.18% |
| Adobe NASDAQ:ADBE | $277.08 | up 0.64% |
| Microsoft NASDAQ:MSFT | $488.44 | up 1.08% |
Analyst sentiment stays optimistic, but expectations vary. According to Google Finance, there are 25 Buys, nine Holds, and two Sells. The average price target stands at $238.94, suggesting a potential 13.8% increase from $209.99.
| Analyst | Recommendation | Target | Date |
|---|---|---|---|
| Brent Thill, Jefferies | Buy | $250 | Aug. 24 |
| Keith Bachman, BMO Capital | Buy | $230 | Aug. 20 |
| Tal Liani, Bank of America | Sell | $160 | Aug. 20 |
| Tyler Radke, Citi | Hold | $204 | Aug. 18 |
| Samik Chatterjee, JPMorgan | Buy | $250 | Aug. 13 |
Capital returns create an additional variable. Salesforce provided 103 million shares immediately as part of a $25 billion accelerated buyback. The company also raised $25 billion in debt, lowering forecast cash-flow growth to approximately 4%–5%.
Risks: Even with a revenue beat, the outcome could be underwhelming if cRPO decelerates or if underlying growth remains lower than the headline rate. Increased interest expense could offset gains from a reduced share count. An improved Agentforce conversion rate would contradict that bearish scenario.
Salesforce is set to report earnings following the close on Wednesday. The company’s webcast is scheduled to start at 17:00 EDT, with cRPO and guidance for the second half in terms of organic growth among the initial key figures in focus.
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