Salesforce Surges on Stellar Results

Nov 30, 2023 By MarketDepth

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Salesforce logo on building

Salesforce (CRM:NASD) stock surged over 9% on strong third-quarter results which saw strong demand of its products. The company announced revenue of $8.72 billion and released higher fourth-quarter forecasted earnings of between $9.18 billion and $9.23 billion.

Salesforce stock finished up over 9% on the day and hit a high of $252.50 not seen since January 2022. The stock is up about 80% on the year which is on track for the best yearly performance since 2009.

Analysts have been impressed with the performance from Salesforce by raising the price target. Results were underpinned by increase demand for cloud services which saw a big increase in revenue.