On September 17, Salesforce.com fell 3.17% in regular trading, trading at $243.61/share, with turnover of $561 million. The decline came as the company experienced a global service disruption during the second day of its flagship Dreamforce conference, compounding profit-taking pressure after a sharp prior rally.
Salesforce.com had previously surged nearly 23% — its best single-day performance since 2020 — after issuing fiscal 2030 revenue guidance exceeding $63 billion, well above the analyst consensus of $61.4 billion. Additionally, the company's early-stage investment in AI startup Anthropic generated a $2.6 billion gain, further boosting earnings. COO and CFO Robin Washington noted the company has cumulatively repurchased $60 billion of its own shares to date.
However, on Dreamforce Day 2, Salesforce.com's core services suffered a worldwide outage affecting multiple regions. The company deployed mitigation measures within its Hyperforce environment, and confirmed that stability and performance were subsequently restored to expected levels. The timing was particularly unfavorable, as the outage coincided with the scheduled investor and analyst day. Despite the pullback, Baird raised its price target on the stock to $300 from $275, maintaining an Outperform rating.
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