New York, Jan 6, 2026, 20:52 EST — Market closed
- Salesforce shares rose 2.6% to $262.90 on Tuesday, among the Dow’s stronger performers.
- RBC Capital raised its price target to $290, arguing enterprise AI tailwinds should show up more clearly in 2026.
- Investors are watching Friday’s U.S. jobs report for the next read on rates and risk appetite.
Salesforce Inc (CRM) shares rose 2.6% on Tuesday to $262.90, making it one of the better performers on the Dow Jones Industrial Average as U.S. stocks ended higher. The Dow gained about 1% on the day.
The bounce comes as investors test whether high-multiple enterprise software can steady after a shaky start to the year, when concerns about monetizing new AI features weighed on several names. Salesforce trades at about 34 times trailing earnings — a price-to-earnings ratio, which compares a company’s share price to its past profit.
RBC Capital analyst Rishi Jaluria on Monday raised his price target on Salesforce to $290 from $250 and kept a “Sector Perform” rating, a roughly neutral call. Jaluria wrote that 2026 may be the year “AI tailwinds become more evident” for vendors positioned for enterprise adoption, even as some peers stay stuck in the “AI is the death of software” debate. TipRanks
Tuesday’s move also tracked a broader risk-on session in U.S. equities, with gains in heavyweight stocks lifting the Dow by nearly 500 points at one stage and putting upward pressure on several big index components, including Salesforce.
Rate expectations remain a key swing factor for software valuations, and Fed commentary has kept traders alert. Richmond Fed President Tom Barkin said policymakers need to fine-tune rate moves as inflation and labor-market risks persist, with rates now around a “neutral” zone after a December cut. Reuters
Salesforce traded between $255.00 and $263.55 on Tuesday and finished near the top of that range, after opening at $255.20. Traders often treat the day’s low as a near-term support marker, while the stock’s next test sits around the recent highs in the low $260s.
The company’s most recent results in December kept the focus on whether AI features can lift bookings and renewals, even as customers scrutinize spending. Salesforce raised fiscal 2026 revenue guidance to $41.45 billion to $41.55 billion with its third-quarter report, and Chief Executive Marc Benioff pointed to momentum in its Agentforce and Data 360 offerings.
The next major company catalyst is its quarterly report. Nasdaq lists Feb. 25 as an estimated earnings date for Salesforce, though the timing can shift; investors will be watching demand signals such as contracted backlog, margins and any update on AI product uptake.
But the downside case remains straightforward: if customers resist paying for AI add-ons or spending tightens again, the sector’s valuation debate can return quickly. Adobe has already faced fresh skepticism on AI monetization in recent analyst commentary, a reminder that “AI” headlines do not always translate into near-term revenue. Barron’s
Next up for the broader tape is U.S. labor-market data — the Employment Situation report for December is due Friday, Jan. 9, at 8:30 a.m. ET — a release that often resets bets on Fed policy and moves rate-sensitive stocks such as software.
