Reference market
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- Next holiday
- Nov 26, 2026 · Thanksgiving Day
Equity
Salesforce, Inc. (CRM) perpetual futures
CRM perpetual futures on 17 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade CRMUSDT.
Salesforce, Inc. provides a customer relationship management platform with solutions for sales, service, marketing, and more, serving various industries globally.
$216.54+0.3%NYSE open
Price chart
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TradingView symbol NYSE:CRM
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Trading data
Perpetual market activity
17/17 live markets
Trading data
Perpetual market activity
Venues
17
Live markets
17/17
24h volume
$24.4M
Open interest
$2.1MCoverage: 14/17 markets
Best liquidity
$526K
Bitget
Tightest spread
+5.1 bps
Bitget
Highest volume
$21.4M
Deepcoin
Settlement mix
USDT · 16/17
Perp/spot vol.
0.03x
Spot volume $788M
OI / float
0.00%
Float $172.6B
Spot performance
1D-0.20%
5D+0.40%
1M-8.59%
6M+31.19%
YTD-17.87%
1Y-9.51%
Venue matrix
17 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | CRM/USDT | Trading | $216.55 | 0.0% APR 0.000% every 8h | +11.5 bps | - | $604.3K | $815.3K | USDT | - | |
 Ourbit | Trade | CRM/USDT | Trading | $216.57 | 0.0% APR 0.000% every 8h | +10.2 bps | $110.4K | $342.9K | $109.3K | USDT | 50x | |
 LBank | Trade | CRM/USDT | Trading | $216.57 | 0.0% APR 0.000% every 8h | +11.5 bps | $399.7K | $176.9K | $30.6K | USDT | 50x | |
 OKX | Trade | CRM/USDT | Trading | $216.48 | 0.0% APR 0.000% every 8h | +14.3 bps | $10.8K | $127.4K | $303.5K | USDT | 10x | |
 MEXC | Trade | CRM/USDT | Trading | $216.62 | 0.0% APR 0.000% every 8h | +10.2 bps | $76.6K | $107.4K | $145.2K | USDT | 50x | |
 GRVT | Trade | CRM/USDT | Trading | $216.67 | +14.0% APR +0.013% every 8h | +13.4 bps | $107.5K | $101K | $91 | USDT | - | |
 Bitunix | Trade | CRM/USDT | Trading | $216.59 | +2.8% APR +0.00256% every 8h | +30.0 bps | $389.6K | $93.1K | $31.5K | USDT | 50x | |
 KuCoin | Trade | CRM/USDT | Trading | $216.60 | +9.0% APR +0.00820% every 8h | +69.3 bps | $9.2K | $75K | $262.5K | USDT | 20x | |
 Bybit | Trade | CRM/USDT | Trading | $216.51 | 0.0% APR 0.000% every 8h | +14.3 bps | $69.8K | $56.7K | $141K | USDT | 25x | |
 HTX | Trade | CRM/USDT | Trading | $216.67 | 0.0% APR 0.000% every 8h | +76.2 bps | $20.7K | $54.1K | $8.5K | USDT | - | |
 Bitget | Trade | CRM/USDT | Trading | $216.54 | 0.0% APR 0.000% every 8h | +5.1 bps | $526K | $23.9K | $232.2K | USDT | 20x | |
 Gate.io | Trade | CRM/USDT | Trading | $216.53 | 0.0% APR 0.000% every 8h | +43.4 bps | $14.9K | $12.9K | $65.8K | USDT | 20x | |
 Aster | Trade | CRMUSDT | Trading | $216.59 | 0.0% APR 0.000% every 8h | +24.0 bps | $22K | $933 | $1.6K | USDT | - | |
 Crypto.com Exchange | Trade | CRM/USD | Trading | $216.36 | +120.3% APR +0.014% every 1h | +20.4 bps | $1.5K | $840.5 | $2.5K | USD | 50x | |
 Deepcoin | Trade | CRM/USDT | Trading | $216.62 | -11.0% APR -0.010% every 8h | +11.5 bps | $94.3K | $21.4M | - | USDT | 25x | |
 BingX | Trade | CRM-USDT | Trading | $216.61 | +5.5% APR +0.00500% every 8h | +12.9 bps | $458.3K15 min | $725K | - | USDT | - | |
 XT.com | Trade | CRM/USDT | Trading | $216.62 | 0.0% APR 0.000% every 8h | +10.2 bps | $45.5K | $536.5K | - | USDT | 20x |
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| CRMonOndo GM | $220.30 | +1.74% | $943k | $946k | Ethereum · BNB Smart Chain (BEP20) · Solana |
| CRMBbStocks | $215.95 | -0.27% | $91k | $525k | BNB Smart Chain (BEP20) |
| CRMXxStocks | $213.62 | -1.35% | $282 | $537k | Solana · Arbitrum · BNB Smart Chain (BEP20) · Ink |
| CRMRobinhood | – | – | – | $25k | Robinhood Chain |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 13 of 17 venues absorb $10k · Typical cost: +15.4 bps – +22.9 bps
Too thin: Aster, OKX, KuCoin, Crypto.com Exchange
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
CRMTightest spread
CRMHighest volume
CRMFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2026-12-02
Revenue est. $11.5B · Updated 1m ago
Dividend
$0.44
2026-09-17
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
New York Stock Exchange
Extended-hours reference
Bid216.09
Ask216.37
Volume1,095,195
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 202716.75$46.3B+11%32
FY 202816.07$50.9B+10%32
FY 202918.50$55.8B+10%18
FY 203021.15$61.4B+10%8
FY 203125.37$71.5B+16%10
Q2 20273.77$12.2B+10%16
Source: FMP · Consensus
Company events
62026-12-02EarningsActual - / Estimate 3.45-
2026-09-17Dividend$0.44-
2026-08-26Earnings · After market closeActual 5.90 / Estimate 3.27Beat
2026-06-11Dividend$0.44-
2026-05-27EarningsActual 3.88 / Estimate 3.13Beat
2026-04-09Dividend$0.44-
Peer comparison
Similar listed perpsRevenue mix
Latest annualAmericasGeographic$27.2B
EuropeGeographic$10B
Asia PacificGeographic$4.3B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $274.18 |
| 12-month target range (low – high) | $215 – $325 |
| Ratings in the provider's consensus | 98 |
Price targets as of 2026-11-12
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 7 | 34 | 15 | 0 | 1 |
| Oct 2026 | 6 | 34 | 15 | 0 | 2 |
| Sep 2026 | 6 | 34 | 15 | 0 | 2 |
| Aug 2026 | 6 | 35 | 14 | 0 | 2 |
| Jul 2026 | 6 | 35 | 13 | 0 | 2 |
| Jun 2026 | 7 | 36 | 11 | 0 | 2 |
| May 2026 | 8 | 36 | 11 | 0 | 2 |
| Apr 2026 | 8 | 36 | 12 | 0 | 1 |
| Mar 2026 | 8 | 37 | 12 | 0 | 1 |
| Feb 2026 | 8 | 37 | 13 | 0 | 1 |
| Jan 2026 | 8 | 36 | 13 | 0 | 1 |
| Dec 2025 | 8 | 36 | 13 | 0 | 1 |
Ownership
Institutional · 2026-Q3Free float96.8%797M shares
Shares outstanding823M shares
Institutional36.7%2,128 investors
Investor count change-546
Reference market activity
CRM-PERPDay range (Nov 12)$214.01$219.35
52 week$146.32$269.11
Spot volume3.6M
Average volume-
Price performance
111D-0.2%
5D+0.4%
1M-8.6%
3M+8.0%
6M+31.2%
YTD-17.9%
1Y-9.5%
3Y+1.1%
5Y-28.8%
10Y+199.0%
MAX+4,959.8%
Insider activity
FY2026 Q4Acquisitions1 transactions1,785 shares
Dispositions2 transactions2,671 shares
Purchases0Ratio 0.5
Sales0
Insider transactions
25DateReporting persontransactionssharesPriceFilings
Parker Harris exercised 1,785 restricted stock units into 1,785 common shares and had 886 shares withheld for taxes at $250.29, leaving 165,467 shares directly owned.
Salesforce director Harris Parker reported exercising 2,541 restricted stock units into 2,541 common shares, with 1,261 shares withheld for taxes at $233.28, on 2026-09-22. He held 163,927 shares afterward.
Salesforce director Robin L. Washington exercised 1,831 restricted stock units into 1,831 common shares, then 908 shares were withheld for taxes at $233.28, leaving 49,750 shares owned.
Salesforce officer Sabastian Niles converted 2,032 restricted stock units into 2,032 common shares; 1,125 shares were withheld for taxes at $233.28.
Salesforce officer Miguel Milano exercised 2,541 RSUs into common stock (M-Exempt), then 1,001 shares were withheld for taxes at $233.28 (F-InKind). He held 32,834 shares afterward.
Salesforce director Kirk David Blair bought 4,176 common shares at $239.3321 on Form 4, holding 18,748 afterward.
Filings
63 · Latest SEC filings2026-10-234Insider transaction report (Form 4)
Parker Harris exercised 1,785 restricted stock units into 1,785 common shares and had 886 shares withheld for taxes at $250.29, leaving 165,467 shares directly owned.
2026-09-234Insider transaction report (Form 4)
Salesforce director Harris Parker reported exercising 2,541 restricted stock units into 2,541 common shares, with 1,261 shares withheld for taxes at $233.28, on 2026-09-22. He held 163,927 shares afterward.
2026-09-234Insider transaction report (Form 4)
Salesforce director Robin L. Washington exercised 1,831 restricted stock units into 1,831 common shares, then 908 shares were withheld for taxes at $233.28, leaving 49,750 shares owned.
2026-09-234Insider transaction report (Form 4)
Salesforce officer Miguel Milano exercised 2,541 RSUs into common stock (M-Exempt), then 1,001 shares were withheld for taxes at $233.28 (F-InKind). He held 32,834 shares afterward.
2026-09-234Insider transaction report (Form 4)
Salesforce officer Sabastian Niles converted 2,032 restricted stock units into 2,032 common shares; 1,125 shares were withheld for taxes at $233.28.
2026-09-214Insider transaction report (Form 4)
Salesforce director Kirk David Blair bought 4,176 common shares at $239.3321 on Form 4, holding 18,748 afterward.
2026-09-164Insider transaction report (Form 4)
Salesforce officer Niles Sabastian reported a tax withholding (F-InKind) of 8,873 Common Stock shares at $255.65 on 2026-09-15, leaving 18,164 shares owned. No open-market purchase or sale occurred.
2026-09-164Insider transaction report (Form 4)
Salesforce officer Milano Miguel reported a Form 4 filing showing 6,535 shares of Common Stock withheld for tax at $255.65, leaving 32,219 shares owned. This is tax withholding, not an open-market purchase or sale.
2026-09-044Insider transaction report (Form 4)
Salesforce director Craig Conway sold 4,500 common shares in two open-market sales on 2026-09-04 at prices of $260.4958-$260.6629, leaving 5,437 shares owned.
2026-08-284Insider transaction report (Form 4)
Salesforce director Harris Parker gifted 16,000 shares of common stock on 2026-08-28, reducing his holdings to 914,987 shares.
2026-08-244Insider transaction report (Form 4)
On Aug 22, 2026, director Sachin J. Mehra converted 441 restricted stock units into 441 common shares at $0.00. After the transaction, he directly owned 5,406 common shares.
2026-08-244Insider transaction report (Form 4)
Director Kroes converted 441 RSUs into 441 common shares (M-Exempt), with 67 shares withheld for taxes (F-InKind) at $209.17.
2026-08-244Insider transaction report (Form 4)
Salesforce director Amy Chang converted 441 restricted stock units into 441 shares of common stock on Aug 22, 2026, leaving her with 2,173 shares.
2026-08-244Insider transaction report (Form 4)
Salesforce officer Niles Sabastian converted 1,662 RSUs into common stock and had 920 shares withheld for taxes.
2026-08-244Insider transaction report (Form 4)
Director Donald Arnold converted 441 Restricted Stock Units into 441 shares of Common Stock at no cost, with 5,856 shares held after.
2026-08-244Insider transaction report (Form 4)
An officer exercised RSUs into 1,662 common shares, with 678 shares withheld for taxes at $209.17. Also received 14,121 RSUs as an award.
2026-08-244Insider transaction report (Form 4)
Director Oscar Munoz converted 441 restricted stock units into 441 common shares of Salesforce, Inc. on 2026-08-22, as reported in Form 4.
2026-08-244Insider transaction report (Form 4)
Laura Alber converted 441 RSUs into 441 common shares of Salesforce on 2026-08-22, with no monetary value.
2026-08-244Insider transaction report (Form 4)
Director Roos John Victor converted 441 restricted stock units into 441 common shares on 2026-08-22. He held 17,289 shares after the transaction.
2026-08-244Insider transaction report (Form 4)
Salesforce director Kirk David Blair converted 441 restricted stock units into 441 common shares on 2026-08-22, leaving 14,572 shares owned after the transaction.
2026-08-244Insider transaction report (Form 4)
Craig Conway converted 441 RSUs into 441 shares of Salesforce common stock on August 22, 2026.
2026-07-234Insider transaction report (Form 4)
Srinivas Tallapragada converted 1,786 RSUs into 1,786 Salesforce common shares, then had 886 shares withheld to cover taxes at $163/share.
2026-07-234Insider transaction report (Form 4)
Harris Parker converted 1,786 RSUs into 1,786 Salesforce common shares, then had 886 shares withheld to cover taxes at $163/share.
2026-06-234Insider transaction report (Form 4)
Salesforce officer Tallapragada Srinivas converted 3,354 RSUs into 3,354 common shares, with 1,664 shares withheld to cover taxes at $150.12 each.
2026-06-234Insider transaction report (Form 4)
Salesforce EVP & Chief Accounting Officer Guy Wanger was awarded 49,757 Restricted Stock Units on 2026-06-22, a compensation grant rather than an open-market purchase, bringing his holding of this RSU award to 49,757 units.
2026-06-234Insider transaction report (Form 4)
Robin L Washington converted 1,831 RSUs into 1,831 Salesforce common shares, then had 908 shares withheld to cover taxes at $150.12 each.
2026-06-234Insider transaction report (Form 4)
Niles Sabastian (President and CLO) converted 2,033 RSUs into 2,033 Salesforce common shares, then had 1,125 shares withheld to cover taxes at $150.12 per share.
2026-06-234Insider transaction report (Form 4)
Salesforce director and CTO Harris Parker exercised 2,540 restricted stock units into common stock (M-Exempt) and had 1,261 shares withheld for taxes at $150.12 (F-InKind) on 2026-06-22. He held 161,748 shares afterward.
2026-06-234Insider transaction report (Form 4)
Miguel Milano converted 2,541 RSUs into 2,541 Salesforce common shares, and 1,001 shares were withheld to cover taxes at $150.12 per share.
2026-06-223Initial insider ownership statement (Form 3)
This Form 3 filing by Guy Wanger, an officer of Salesforce, reports an initial statement of beneficial ownership showing no shares held as of June 15, 2026.
2026-05-264Insider transaction report (Form 4)
Director Donald Arnold converted 442 restricted stock units into 442 common shares at no cost.
2026-05-264Insider transaction report (Form 4)
Salesforce director Neelie Kroes converted 442 restricted stock units into 442 common shares; 67 shares were withheld for taxes.
2026-05-264Insider transaction report (Form 4)
Director Kirk David Blair converted 442 restricted stock units into 442 common shares of Salesforce on May 22, 2026, as reported on Form 4.
2026-05-264Insider transaction report (Form 4)
Miguel Milano (President & CRO) converted 1,663 RSUs into common stock and withheld 680 shares at $180.07 to cover taxes; net retained 983 shares.
2026-05-264Insider transaction report (Form 4)
Director Laura Alber converted 442 restricted stock units into 442 shares of common stock on 2026-05-22, holding 9,972 shares afterward.
2026-05-264Insider transaction report (Form 4)
Director Sachin J. Mehra converted 442 restricted stock units into 442 common shares of Salesforce, Inc., at $0.00, maintaining holdings. This was a non-market compensation event.
2026-05-264Insider transaction report (Form 4)
Director Munoz converted 442 RSUs into 442 common shares at no cost.
2026-05-264Insider transaction report (Form 4)
Director Maynard G. Webb Jr. converted 442 restricted stock units into 442 common shares of Salesforce on May 22, 2026.
2026-05-264Insider transaction report (Form 4)
Director John Victor Roos converted 442 restricted stock units into 442 shares of Common Stock on May 22, 2026, with no cash paid. After the transaction, he held 16,848 common shares and 882 RSUs.
2026-05-264Insider transaction report (Form 4)
Salesforce officer Niles Sabastian converted 1,663 RSUs into 1,663 common shares; 920 shares were withheld for taxes at $180.07.
2026-05-264Insider transaction report (Form 4)
Director Conway Craig converted 442 RSUs into 442 shares of Salesforce common stock on May 22, 2026, in a non-market transaction.
2026-05-264Insider transaction report (Form 4)
Director Amy Chang converted 442 restricted stock units into 442 common shares of Salesforce on 2026-05-22, now holding 1,732 shares directly.
2026-04-234Insider transaction report (Form 4)
Salesforce officer Tallapragada Srinivas converted 1,785 RSUs into common shares, then 14,667 shares were withheld for taxes at $189.80, reducing his holdings.
2026-04-234Insider transaction report (Form 4)
Salesforce director Harris Parker converted 1,785 RSUs into common stock, then sold 14,667 shares for $189.80 each.
2026-04-234Insider transaction report (Form 4)
On 2026-04-22, CEO Marc Benioff had 22,560 shares withheld to cover taxes ($189.80/share), reducing his holdings to 11,934,486 shares.
Transcripts
Earnings callsFY2027 Q22026-08-26
Earnings calls
AI summary
positiveSalesforce reported record Q2 FY2027 results, with revenue of $11.35B (up 11% YoY), cRPO of $33.5B (up 14% cc), and free cash flow of $1.1B (up 81% YoY). Agentforce ARR reached $1.5B, AI and Data ARR approaching $4B, and customers drove 3.2 billion Agentforce workloads (AWUs) in Q2, up 97% QoQ. The company announced Claudeforce, a new product combining Anthropic's Claude with Salesforce's platform, and raised FY27 revenue guidance by $300M to $46.1-$46.4B. Management emphasized strong net new AOV growth, near-record low attrition, and accelerating AI adoption, countering the 'SaaSpocalypse' narrative. Slack had a strong quarter, with Slackbot users up over 150% QoQ.
Key takeaways
- Agentforce ARR reached $1.5B, with customer agents in production growing 70% QoQ; 2,000 paying customers added to production.
- Claudeforce, a new product combining Anthropic's Claude with Salesforce's platform, was announced; GA in September at Dreamforce.
- AI and Data ARR is approaching $4B, with 9 of top 10 AI companies using Salesforce and Slack, and their spend up 435% YoY.
- Net new AOV growth was the strongest in 4 years, with attrition near record lows and Contract length improving across segments.
- Slack had its best quarter since acquisition; Slackbot users grew over 150% QoQ to 1 million active users.
Financial highlights
- Q2 revenue: $11.35B, up 11% YoY; subscription and support revenue: $10.82B, up 12% YoY.
- cRPO: $33.5B, up 14% in constant currency, beating guidance by 1 point.
- Non-GAAP operating margin: 34.1%; GAAP operating margin: 20.5%.
- Free cash flow: $1.1B, up 81% YoY.
Guidance
- FY27 revenue guidance raised by $300M in constant currency to $46.1-$46.4B, including $200M from expected Contentful and Fin closures and $100M organic improvement.
- FY27 subscription and support growth expected slightly above 12% YoY; in constant currency slightly under 12%.
- Q3 revenue guidance: $11.42-$11.5B, growth ~11-12% cc; Q3 cRPO growth ~14% cc (excluding Contentful and Fin).
- FY27 non-GAAP operating margin guidance maintained at ~34.3%; GAAP operating margin updated to ~20.1%.
Q&A themes
- Claudeforce go-to-market: rolling out to enterprise, then GA in September; sales force will demo it, working with Anthropic sales teams.
- Pricing and monetization: customers want flexibility (per user, consumption, outcome-based); premium editions like Agentforce One and A4X are key.
- Headless adoption: customers are embedding Salesforce intelligence in their own apps and surfaces, driving MCP and API usage growth.
- AI adoption metrics: bookings doubled YoY, 50% from refills; customer success stories like Amazon Blink and biBERK show tangible outcomes.
Risks
- License revenue continues to see volatility, partially offsetting growth in other areas.
- FX headwind of $100M incorporated in FY27 guidance.
- Sustainability of marketing recovery is too early to call as a durable trend.
FY2027 Q12026-05-27
Earnings calls
AI summary
positiveSalesforce achieved record Q1 results with $11.13B revenue, $33.6B cRPO, and 34.8% non-GAAP operating margin, highlighted by Agentforce ARR exceeding $1B and 28.6 trillion tokens processed. The company secured 98 deals over $1M in net new ACV and raised FY2027 revenue guidance to $45.9-46.2B. Agentforce Coworker launch, Headless 360 strategy, and Slack's 350% AWU growth position Salesforce as the #1 agentic CRM.
Key takeaways
- Agentforce ARR surpassed $1B; processed 28.6 trillion tokens (up 152% QoQ) and 3.8B agentic work units (up 111% QoQ)
- Record 98 deals with $1M+ net new ACV in Q1; top 10 deals added $800M TCV (2.5x prior year); 50% of Agentforce/Data 360 bookings from existing customer expansion
- Slack nearly half of 1M+ wins in Q1 (up 80% YoY); 350% AWU growth QoQ; 3M custom apps built in Q1 with 250K AI agents
- Raised FY2027 revenue guidance to $45.9-46.2B; expecting net new AOV growth to outpace AOV growth and drive H2 organic revenue reacceleration
- Headless 360 strategy enables agents to access Salesforce across any surface; processed 4.5M MCP calls and 1 trillion API calls in Q1
Financial highlights
- Q1 revenue: $11.13B, up 13% YoY nominal (12% constant currency)
- cRPO: $33.6B, up 14% nominal (13% constant currency)
- Non-GAAP operating margin: 34.8% (up 250 bps); GAAP operating margin: 21.1% (up 130 bps)
- Operating cash flow: $6.7B; commenced $25B accelerated share repurchase reducing Q1 share count 10% YoY
Guidance
- FY2027 revenue guidance raised to $45.9-46.2B; subscription and support growth approximately 11% YoY in constant currency
- Q2 revenue: $11.27-11.35B (approximately 10% constant currency growth); Q2 cRPO growth approximately 13% YoY constant currency
- Non-GAAP operating margin guidance reiterated at 34.3%; GAAP operating margin adjusted to 20.6%
- Operating cash flow and free cash flow guidance updated to 4-5% YoY growth (impacted by approximately 5-point headwind from debt issuance for ASR)
Q&A themes
- Agentforce adoption metrics (tokens, AWUs, work units) validate strong product usage and customer value creation; top 10 AWU customers increased total spend 1.5x in past year
- Monetization of Agentforce occurs through three primary mechanisms: upgrading existing seats with A1E (60% YoY growth), new pockets of seats from transformed clouds, and customer-facing use cases via Flex Credits
- Headless 360 and MCP servers create new monetization opportunities by enabling agents built outside Salesforce to access platform data; expected to expand addressable market into surfaces not previously monetized
- Slack positioned as critical surface for agentic adoption with strong network effects; increasing adoption among AI companies (OpenAI, Anthropic) and driving incremental seat expansion opportunities
Risks
- Ongoing weakness in Marketing Cloud and Commerce Cloud partially offsetting Agentforce and Data 360 momentum; increased softness in Tableau bookings and renewals
- Greater license revenue volatility expected with Informatica on-prem revenue addition to business; Informatica was single-digit growth pre-acquisition
- Execution risk on H2 revenue reacceleration commitment made 12-18 months in advance; reliance on continued net new AOV outpacing AOV growth to drive subscription reacceleration
FY2026 Q42026-02-25
Earnings calls
AI summary
positiveSalesforce achieved strong FY2026 results with subscription revenue growth slightly above 10% and record deal activity, including 29,000 Agentforce deals closed in its first 15 months. The company is monetizing AI through three distinct methods: premium SKU upgrades, seat expansion, and consumption-based credits for customer-facing agents. Management is confident in reaccelerating organic revenue growth in H2 FY2027 based on net new AOV outpacing renewal AOV.
Key takeaways
- Agentforce and Data 360 combined ARR reached $2.9B, up 200% YoY, with Agentforce alone at ~$800M ARR (up 169% YoY) and 29,000 deals closed
- FY2030 revenue target increased to $63B (11% CAGR from FY2026), up from prior $60B target, reflecting confidence in Informatica integration and organic growth acceleration
- Three monetization models for AI: premium SKU upgrades (tripled Q-o-Q for Agentforce First Edition), seat expansion in existing customer base, and consumption-based Flex Credits for customer-facing agents
- Record deal performance: wins over $10M up 33% YoY, top 10 Q4 deals all included Agentforce, 12 deals exceeded $10M (prior record was 10), with U.S. Army awarding $5.6B ceiling contract
- Introduced Agentic Work Units (AWUs) metric: 2.4B total AWUs delivered to date (771M in Q4 alone), representing completed workflows, decisions made, and MCP calls as alternative to token consumption
Financial highlights
- FY2026 total revenue: $41.5B, up 10% YoY (9% constant currency); Q4 revenue: $11.2B, up 12% YoY (10% constant currency)
- CRPO ended Q4 at $35.1B, up 16% YoY nominally and 13% constant currency; total RPO reached $72B, up 14% YoY
- Subscription and support revenue grew slightly above 10% YoY; non-GAAP operating margin expanded 60 basis points in FY2026
- Free cash flow exceeded $14B in FY2026 (99% of FCF returned to shareholders); Q4 revenue attrition at approximately 8%
Guidance
- FY2027 revenue guidance: $45.8B to $46.2B (10-11% growth in nominal and constant currency); subscription and support growth slightly under 12% YoY
- Q1 FY2027 revenue: $11.03B to $11.08B (12-13% growth nominally, 10-11% constant currency); CRPO growth ~14% YoY nominally
- FY2027 non-GAAP operating margin: 34.3% (20 basis points expansion); GAAP operating margin: 20.9% (80 basis points expansion)
- Management confident in organic revenue reacceleration in H2 FY2027 based on net new AOV growth significantly outpacing renewal AOV in H1
Q&A themes
- Agentforce can catalyze broader Salesforce portfolio growth through incremental value delivery; monetization occurring through multiple channels (premium SKUs, seats, consumption) simultaneously
- Strategic differentiation from model providers (OpenAI, Anthropic, Gemini): Salesforce's platform layer provides reliability, security, compliance, and scalability that individual models cannot; models are infrastructure, Salesforce is the operating system
- Pricing model evolution: moving from token-based consumption to broader hybrid model including seats, SKU upgrades, and Flex Credits; gross margins expected neutral short-term with long-term efficiency gains from fine-tuned models and Agentforce Scripts
- Customer acquisition and deployment roadblocks addressed through expanded sales capacity (15-17% growth in ramped AEs year-over-year) and doubled pipeline growth; Slack ecosystem with 350+ AI apps and agents provides distribution advantage
Risks
- Marketing and Commerce segments underperformed; Tableau growth weaker than expected; on-premises revenue timing delays in Tableau and MuleSoft noted
- Continued uncertainty around model provider competitive dynamics and potential platform proliferation; execution risk on FY2027 revenue reacceleration guidance dependent on net new AOV significantly outpacing renewal AOV
- Gross margin near-term neutrality on token pricing commoditization and consumption model adoption; longer-term margin expansion dependent on product efficiency improvements and resource reallocation
FY2026 Q32025-12-03
Earnings calls
AI summary
positiveSalesforce reported Q3 FY2026 revenue of $10.26 billion, up 9% YoY, with AgentForce and Data 360 as primary growth drivers. AgentForce ARR reached $540 million with 330% YoY growth, and the company is seeing significant customer adoption with 70% QoQ increase in customers in production. The company completed the Informatica acquisition three months ahead of schedule and raised FY2027 capital allocation guidance.
Key takeaways
- AgentForce ARR reached $540 million, up 330% YoY, with over 18,500 total deals closed since launch and 9,500 paid transactions
- AgentForce and Data 360 combined ARR grew 114% YoY to nearly $1.4 billion; Data 360 ingested 32 trillion records in Q3, up 119% YoY
- CRPO grew 11% YoY to $29.4 billion; 70% of top 100 wins included five or more clouds
- Operating cash flow reached $2.3 billion, up 17% YoY; free cash flow grew 22% YoY to $2.2 billion
- Informatica acquisition closed three months ahead of schedule; company projects $10 billion combined data infrastructure business opportunity
Financial highlights
- Q3 FY2026 revenue: $10.26 billion, +9% YoY (8% constant currency)
- Non-GAAP operating margin: 35.5% (up 240 basis points)
- CRPO: $29.4 billion, +11% YoY (constant currency); RPO nearly $60 billion, +12% YoY
- Operating cash flow: $2.3 billion, +17% YoY; Free cash flow: $2.2 billion, +22% YoY; Expected FY2026 operating cash flow of nearly $15 billion
Guidance
- FY2026 organic subscription and support revenue growth: ~9% YoY constant currency; with Informatica, total ~10% YoY
- FY2026 organic revenue guidance narrowed to $41.15B-$41.25B; with Informatica, $41.545B-$41.55B (~9-10% nominal, ~9% constant currency)
- Non-GAAP operating margin guidance maintained at 34.1%; GAAP operating margin adjusted to 20.3%
- FY2026 operating cash flow growth guidance raised to ~13-14%; free cash flow growth ~13-14%
Q&A themes
- AgentForce addresses enterprise AI adoption: customers moving from experimentation to production at scale, with 70% QoQ increase in production deployments and 362 customers refilling the tank in Q3 vs. only 3 two quarters prior
- Pricing and packaging flexibility: company introduced Agentic Enterprise License Agreements (AELAs) with 16 deals in Q3 and 100 in pipeline; also offering seat-based and consumption-based models to meet diverse customer needs
- Sales capacity expansion: 23% capacity increase through Q3 with focus on enablement and training for agentic enterprise selling across all six market segments; mid-double digit growth seen in several segments
- Data foundation competitive advantage: integrated data layer (Data 360, MuleSoft, Informatica) critical for enterprise AI accuracy and hallucination reduction; federation capability extends context to legacy systems like IBM mainframes
Risks
- Faster than anticipated mix shift to cloud for Tableau and on-prem revenue timing in Tableau and MuleSoft created headwinds; on-prem revenue recognition reduces revenue predictability quarter-to-quarter
- Asia Pacific region more constrained, particularly Australia and India; Comms/media, manufacturing, automotive, and energy verticals showed more measured performance
- New sales rep ramp timing: while 23% capacity increase was completed, full productivity benefit depends on six to twelve month average ramp period for Account Executives
FY2026 Q22025-09-03
Earnings calls
AI summary
positiveSalesforce reported Q2 revenue of $10.25 billion, up 10% year-over-year, with non-GAAP operating margin at 34.3% and CRPO at $29.4 billion (+11% YoY). The company raised FY2026 guidance on revenue, operating margin, and operating cash flow to ~$15B. AgentForce and Data Cloud showed explosive growth at 120% YoY, with 6,000 paid deals and 12,500 total deals in three quarters, while 40% of new bookings came from existing customers expanding investments.
Key takeaways
- Data Cloud and AI product revenue grew 120% YoY, reaching $1.2B ARR, with 140% YoY customer growth and 326% growth in rows accessed via zero-copy integration
- AgentForce achieving 60% increase QoQ in customers moving from pilot to production, with 40% of Q2 bookings from existing customers expanding investments
- Net new bookings from deals over $1M grew 26% YoY; closed deals with Dell, Marriott, Eaton, US Bank, Japan Post Bank, Lululemon, and US Army
- Company operating as customer zero with 1.5M agent conversations and 1.5M human conversations on help.salesforce.com, demonstrating 77% resolution rate with AI agents
- Launching AgentForce for public sector with FedRAMP High certification and introducing new ITSM product with agent-first, Slack-first design available next month
Financial highlights
- Q2 FY2026 revenue: $10.25B, up 10% YoY (9% constant currency)
- Q2 non-GAAP operating margin: 34.3%, up 60 basis points; GAAP operating margin up 370 basis points to mark 10th consecutive quarter of expansion
- CRPO: $29.4B, up 11% YoY (10% constant currency)
- FY2026 operating cash flow guidance raised to ~$15B; expected free cash flow growth of 12-13% with CapEx slightly below 2% of revenue
Guidance
- FY2026 revenue guidance raised to $41.1B-$41.3B, representing 8.5-9% YoY growth (8% constant currency)
- Non-GAAP operating margin raised 10 basis points to 34.1% for full year; GAAP operating margin expected at 21.2% including restructuring charges
- Q3 FY2026 revenue expected at $10.24B-$10.29B, up 8-9% YoY (8% constant currency); CRPO growth slightly above 10% YoY
- Company expects Informatica to close in FY2026 or early FY2027; no Informatica contribution included in current guidance due to closing timing variability
Q&A themes
- AgentForce expansion from pilot to production driven by product hardening including determinism, specialized UI treatments, agent command center for observability, and deep Data Cloud integration enabling customers to move from DIY to enterprise-scale deployments
- Mid-market and SMB segments showing strongest growth; company investing 20% more AE capacity with emphasis on lower-end and mid-market where customers rapidly adopt AgentForce; pipeline growing in high teens overall and approaching 20% for big deals
- Competitive positioning: Salesforce claims to be the only company at scale delivering agentic enterprise with unified platform combining deterministic workflows, data (Data Cloud), and agentic reasoning; customers reducing support headcount by ~40% while improving efficiency
- Capital allocation balanced across buybacks ($20B authorization expansion announced), dividends, and strategic M&A including Convergence AI, Bluebirds, and Regrello acquisitions to accelerate agentic and data capabilities
Risks
- FX headwind of $300M included in guidance; UK and Japan markets noted as constrained; retail, consumer goods, and public sector segments remain measured
- Informatica acquisition closing timeline uncertain (FY2026 or early FY2027); variability in timing means no contribution assumed in current guidance
- Slower growth in marketing and commerce products and exploration base partially offsetting Data Cloud and AgentForce momentum in subscription and support revenue growth outlook
FY2026 Q12025-05-28
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- Salesforce to Buy Customer-Engagement Platform for Nearly $5.7 Billion
- Salesforce to acquire Braze in a $5.66 billion deal
- Salesforce Targets Fiscal 2030 Revenue at Over $63 Billion
- Snap targets enterprises with Salesforce, Nvidia AI tools for augmented-reality glasses
- Salesforce Profit, Revenue Rise, Expands Partnership with Anthropic's Claude
- Salesforce raises annual revenue forecasts on AI product momentum
Company data
Company intelligence
Updated: Nov 13, 2026, 07:13 AM UTC
Company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Software - Application
- Chief executive
- Marc R. Benioff
- Employees
- 83,334
- IPO date
- Jun 23, 2004
- Country
- US
- Exchange
- New York Stock Exchange
Altman Z-scorei2.6
Piotroski scorei6/9
Overall ratingiA-
Owner earningsi$1.31B$1.59 per share
ESG risk ratingiBIndustry rank: 37/56
Rating factors
- Return on equityi
- 5/5
- Return on assetsi
- 4/5
- Debt to equityi
- 1/5
- Price to earningsi
- 3/5
- Price to booki
- 3/5
Company press releases
Salesforce Announces Date of Third Quarter Fiscal 2027 Earnings Release and WebcastBusiness WireVeteran Silicon Valley Executive Lorie Boyd Joins Kodiak AI as Chief People OfficerGlobeNewsWireLeaders from Wolters Kluwer, Microsoft, Salesforce, and McKinsey challenge accounting firms to make one AI move in the next 90 daysBusiness WireSalesforce Grants Equity Awards to m3ter and Fin Under Its Inducement Equity Incentive PlanBusiness WireAurora Mobile's EngageLab Brings AI Beyond the Send Button with Agent Email, Letting AI Agents Receive and Answer Customer Replies at ScaleGlobeNewsWireBraze Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Braze, Inc. - BRZEBusiness Wire
Congressional disclosures
Senate
Alan ArmstrongPurchase · $1,001 - $15,000Disclosed: Jul 21, 2026Alan ArmstrongPurchase · $1,001 - $15,000Disclosed: Jul 22, 2026Markwayne MullinPurchase · $15,001 - $50,000Disclosed: Jan 16, 2026Markwayne MullinPurchase · $15,001 - $50,000Disclosed: Jan 16, 2026John BoozmanSale (Full) · $1,001 - $15,000Disclosed: Aug 24, 2026
House
Market cap history
$178.41B+6.3%Aug 2026 – Nov 2026
Latest: $178.41B · 2026-11-12High: $212.73B · 2026-09-14Low: $165.76B · 2026-08-17
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.24% | 24.8M |
| VOO | 0.29% | 21.5M |
| FXAIX | 0.29% | 11.2M |
| XUU.TO | 0.24% | 11M |
| IVV | 0.27% | 11M |
| 1657.T | 0.21% | 11M |
| SPY | 0.27% | 10.1M |
| VTV | 0.68% | 7.4M |
| XLK | 1.13% | 6.1M |
| VWNAX | 2.05% | 6M |
| VGT | 0.72% | 5.6M |
| DIA | 2.47% | 5.2M |
Analyst track record
How the analysts covering CRM have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 312 | 1,021 |
| Analysts | 54 | 73 |
| Buy / hold / sell | 229 / 76 / 7 | 742 / 256 / 23 |
| Upgrades / downgrades / initiations | 4 / 3 / 6 | 13 / 12 / 13 |
| Price targets hit / missed | 43 / 238 (15%) | 46 / 866 (5%) |
| Avg. return after a rating (TipRanks) | -17.5% | -28.9% |
| Best / worst call | +36.0% / -46.3% | +36.8% / -51.7% |
After buy calls on this stock: median 21-day move -0.9% vs S&P 500 -2.3% (n = 780)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Mark MoerdlerBernstein80% hit rate on this stock · 10 targets measuredBuytarget $195Aug 27, 2026
- Brad ZelnickDeutsche Bank78% hit rate on this stock · 9 targets measuredBuytarget $275Aug 27, 2026
- Robert OliverRobert W. Baird75% hit rate on this stock · 12 targets measuredBuytarget $275Aug 27, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 10, 2026 | Kirk MaterneEvercore ISINov 10, 2026 | BuyMaintained | $290↗ | article ↗ |
| Oct 26, 2026 | Tal LianiBank of America SecuritiesOct 26, 2026 | BuyMaintained | –↗ | article ↗ |
| Oct 22, 2026 | Andy Yu CFADBSOct 22, 2026 | BuyMaintained | $300↗ | article ↗ |
| Oct 21, 2026 | Brian SchwartzOppenheimerOct 21, 2026 | BuyMaintained | $275↗ | article ↗ |
| Oct 20, 2026 | Matthew VanVlietCantor FitzgeraldOct 20, 2026 | BuyReiterated | $300↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 312 ratings
Frequently asked questions
Where can I trade CRM perpetual futures?
Salesforce, Inc. (CRM) perpetual futures trade on 17 crypto venues, including Deepcoin, BingX, Binance. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade CRM around the clock?
Yes. Unlike the underlying stock, CRM perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on CRM perpetuals?
Right now the CRM perp funding rate is 0.0% annualized (venue median), ranging from -11.0% to +120.3% across 17 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the CRM perp price compare to the Salesforce, Inc. stock?
The venue-median CRM perp mark is $216.6 versus a reference stock price of $216.5, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.
What is a CRM perpetual future?
A CRM perpetual is a derivative that tracks the price of Salesforce, Inc. with no expiry date. It lets you take long or short exposure to Salesforce, Inc. on crypto venues, around the clock.
What is CRMUSDT perpetual?
CRMUSDT is the symbol most crypto exchanges use for the Salesforce, Inc. perpetual settled in USDT (Tether). It tracks the CRM share price through an index, trades 24/7 with leverage and never expires.
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