Watch These Salesforce Price Levels as Stock Jumps on Upbeat Sales Outlook
26 minutes ago
Salesforce (CRM) shares gained ground in premarket trading Thursday after the software maker issued a better-than-expected long-term sales outlook.
The company said it expects revenue to surpass $60 billion in 2030, comfortably ahead of the level forecast by analysts. It also projects revenue growth of above 10% annually for the 2026–2030 fiscal years, boosted by its Agentforce software, which automates customer service tasks and business processes.
Shares of Salesforce, a Dow Jones Industrial Average component, were up 4.8% at $248 in recent premarket trading. Coming into today’s session, the stock had lost nearly 30% of its value so far this year amid concerns that competing AI software could slow adoption of the company’s Agentforce platform.
Since retesting the 200-day moving average (MA) in mid-May, Salesforce shares have traded lower within a descending broadening formation, tagging the pattern’s upper and lower trendlines on several occasions since that time.
More recently, the 50-day MA has provided selling pressure on attempted rallies, while the relative strength index has slipped slightly below its neutral threshold. However, the stock looks set to open around the 50-day MA after the software maker’s upbeat revenue outlook, potentially setting the stage for a breakout from the descending broadening formation.
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Stock Futures Point Higher as Strong Bank Earnings Continue
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Futures tied to the Dow Jones Industrial Average rose 0.4%.
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S&P 500 futures also were up 0.4%.
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Nasdaq 100 futures rose 0.5%.
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