Why Is Adobe Stock Surging on Thursday?

Shares of enterprise application software are trading higher amid sympathy with Salesforce after the company reported Q2 financial results.

Why ServiceNow Rallied Today

ServiceNow stock rallied 9.2% following Salesforce's strong earnings report, which alleviated fears of a 'SaaS-pocalypse' from agentic AI. Salesforce reported 10.8% revenue growth, beat EPS estimates by 80%, and showed its AI-infused Agentforce features growing at 210% annualized revenue run rate. Both companies are positioned as platforms that will collaborate with AI rather than be disrupted by it, with Salesforce announcing a partnership with Anthropic called 'Claudeforce.'

Citigroup Maintains Neutral on Salesforce, Raises Price Target to $233

Citigroup analyst Tyler Radke maintains Salesforce (NYSE:CRM) with a Neutral and raises the price target from $204 to $233.

Why Salesforce Stock Is Soaring This Week

Salesforce stock surged 22% this week after beating Q2 2027 earnings expectations with $11.35B in revenue versus $11.32B expected, and posting $4.29 diluted EPS versus $3.27 anticipated. The company raised its fiscal 2027 revenue guidance to $46.1-$46.4B and EPS guidance to $10.21-$10.25, prompting analysts to raise price targets. At 12.1x operating cash flow versus its five-year average of 18.3x, the stock is considered undervalued.

Snowflake Stock Rises as Salesforce's Beat Lifts Enterprise Software

Snowflake shares are trading higher Thursday alongside Salesforce, which posted stronger-than-expected Q2 results and raised its FY outlook.