Stock Market Today, Aug. 27: Salesforce Surges 23% on Anthropic Partnership and Q2 Earnings Beat
Salesforce (NYSE:CRM), a cloud CRM and AI-powered enterprise software provider, closed at $252.10, up 22.60% Thursday. The move followed a strong Q2 earnings beat, raised full-year guidance, and fresh AI partnership momentum. Investors are watching Salesforce's next earnings repo
On August 27, the stock market showcased a significant surge in Salesforce's shares, which closed at $252.10, marking a remarkable 22.60% increase from the previous session. This upward momentum was fueled by the company's impressive Q2 earnings report, its positive full-year guidance revision, and the formation of a fresh AI partnership. The trading volume for Salesforce's shares reached an impressive 53.3 million shares, a staggering 246% above the company's three-month average of 15.4 million shares.
Following its strong performance, Salesforce's peers in the enterprise software and customer relationship management (CRM) sectors also experienced a notable upward trajectory. ServiceNow (NYSE:NOW) soared to $138.44, up 10.05%, while Workday (NASDAQ:WDAY) climbed to $193.57, up 1.48%. These gains underscored the broad enthusiasm for large-cap software companies in the market, with investors closely monitoring Salesforce's next earnings report and the potential impact of its AI-related revenue growth.
It's worth noting that Salesforce IPO'd in 2004 and has since achieved an astounding 5,763% increase in stock price since going public. The broader market also participated in the rally, with the S&P 500 (SNPINDEX:^GSPC) closing at 7,730, up 0.71%, and the Nasdaq Composite (NASDAQINDEX:^IXIC) finishing at 26,541, up 1.57%.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
