Salesforce stock rises 22% in a week after Anthropic deal, ending 20-month downtrend

Key points

• Salesforce's stock surged 22% over the past week, breaking a 20-month downtrend, following a record quarterly performance and an expanded partnership with Anthropic.
• The company reported second-quarter revenue of $11.3 billion, an 11% year-over-year increase, and introduced 'Claudeforce,' integrating Anthropic's AI models into its enterprise workflows.
• Analysts have raised Salesforce's price targets, with Stifel increasing its target to $300, citing AI monetization strategies.
• UBS maintained a Neutral rating and $240 price target ahead of the Dreamforce conference, focusing on the Claudeforce partnership.