Salesforce Advances AI Strategy With Google Cloud Partnership
Salesforce, Inc. (NYSE:CRM) shares are up on Wednesday as the company disclosed an expanded partnership with Alphabet Inc. (NASDAQ:GOOG) Google Cloud.
The partnership with Google Cloud enables AI agents that can run end-to-end workflows across both platforms.
The collaboration focuses on unifying data, automating complex processes, and improving efficiency while reducing risks tied to data movement.
Customers will be able to deploy AI agents within tools like Slack and Google Workspace, supporting a shift toward "agentic enterprises," where AI drives core business operations.
Technical Analysis
The broader market saw gains, with the Technology sector up 1.65% today. Salesforce’s rise aligns with the sector’s performance, indicating a favorable environment for tech stocks.
Salesforce is currently trading within a 52-week range of $163.52 to $296.05, suggesting it is positioned toward the middle of this range. The stock is trading 5.5% above its 20-day simple moving average (SMA), indicating short-term strength, while it sits 11.4% below its 100-day SMA, suggesting some intermediate-term weakness.
Earnings & Analyst Outlook
Salesforce is slated to provide its next financial update on May 27, 2026 (estimated).
- EPS Estimate: $2.79 (Up from $2.58)
- Revenue Estimate: $11.06 billion (Up from $9.83 billion)
- Valuation: P/E of 24.0x (Indicates fair valuation)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $265.79. Recent analyst moves include:
- BTIG: Buy (Maintains Target to $255.00) (April 17)
- Piper Sandler: Overweight (Lowers Target to $215.00) (April 14)
- BTIG: Buy (Maintains Target to $255.00) (April 1)
Top ETF Exposure
- SmartETFs Advertising and Marketing Technology ETF (NYSE:MRAD): 4.11% Weight
- iShares Expanded Tech-Software Sector ETF (BATS:IGV): 7.40% Weight
- First Trust DJ Internet Index Fund (NYSE:FDN): 4.07% Weight
CRM Stock Price Activity: Salesforce shares were up 1.78% at $190.44 at the time of publication on Wednesday, according to Benzinga Pro data.
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