Salesforce Inc‘s (NYSE:CRM) shares are trading higher Thursday after the company priced an underwritten public offering of $25 billion in senior notes.
Net proceeds will go toward repurchasing common stock. These buybacks will occur through accelerated share repurchase (ASR) agreements.
Momentum is also building around “Agentforce.” Nvidia Corp (NASDAQ:NVDA) is preparing an open-source platform for AI agents called NemoClaw. Nvidia has approached Salesforce regarding potential partnerships for this platform.
This comes as Salesforce on March 3 launched an AI-powered fan companion for Formula 1, tracked via Liberty Media Corp (NASDAQ:LLYVK).
Despite a difficult year for SaaS, Salesforce posted a strong fourth quarter on Feb. 25. Revenue hit $11.2 billion, beating the $11.18 billion consensus.
Salesforce Technical Analysis
Salesforce is trading 6.1% above its 20-day simple moving average (SMA), but it remains 12.6% below its 100-day SMA, showing a short-term bounce inside a still-damaged intermediate trend.
Shares are down 28.71% over the past 12 months and are currently positioned closer to their 52-week lows than highs.
- Key Resistance: $235.50
- Key Support: $180.00
Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the May 27, earnings report.
- EPS Estimate: $2.79 (Up from $2.58 YoY)
- Revenue Estimate: $11.06 Billion (Up from $9.83 Billion YoY)
- Valuation: P/E of 24.9x (Suggests fair valuation relative to peers)
CRM Stock Price Activity: Salesforce shares were up 4.27% at $202.41 at the time of publication on Thursday, according to Benzinga Pro data.
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