Movement Alert|Salesforce Rises 3.7% in Regular Trading, Software Sector Rally Extends Amid Analyst Bullish Outlook

Market Focus05-19 21:38

On May 18, Salesforce rose 3.7% in regular trading, trading at $183.28 per share, with trading volume of $337 million. The gain extends a broader software sector rally.

On the news front, the rise came as analysts maintained bullish outlooks on the stock and the software sector saw broad-based buying. Notably, SAP gained 4.0% in the same session, reflecting strength across enterprise software names. The move also came despite Bank of America reinstating coverage with an Underperform rating and a $160 target price, citing concerns over AI-driven structural reset including weak new customer acquisition, limited upsell potential, and underwhelming AI monetization.

Earlier in May, Citi had trimmed its target price to $188 citing elongated deal cycles and slower renewal activity, while maintaining a Neutral rating. Despite these headwinds, broader sector momentum and sustained analyst confidence in Salesforce's platform fundamentals appeared to outweigh near-term concerns, supporting the intraday advance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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