Salesforce (NYSE:CRM) stock gained on Thursday after it set a new long-term revenue target of over $60 billion by fiscal year 2030, excluding Informatica, signaling a 10%+ organic CAGR from fiscal 2026 to fiscal 2030.
The company also introduced its Profitable Growth Framework, "50 by fiscal 2030," aiming for the sum of constant-currency subscription and support growth, as well as an adjusted operating margin, to reach 50% by fiscal 2030.
At its Investor Day during Dreamforce, Salesforce outlined a plan to sustain double-digit revenue growth through the Profitable Growth Framework, product innovation, and an optimized go-to-market model that scales sales efficiently and reimagines customer success to boost consumption and Net New Average Order Value (AOV).
Also Read: Salesforce Strikes $8 Billion Acquisition To Boost AI And Data Cloud Power
Salesforce highlighted strong momentum in its Data and AI offerings, which reached $1.2 billion in the second quarter, up 120% year-over-year. Combined with Agentforce, its total agentic AI annual recurring revenue (ARR) in the second quarter hit approximately $440 million, serving more than 12,000 customers across industries. The company sees a potential 3–to 4–fold ARR uplift for customers who expand their use of agentic AI across their operations.
Salesforce and Alphabet (NASDAQ:GOOGL) Google expanded their strategic partnership to bring Google's Gemini AI models into Salesforce's new Agentforce 360 Platform. The collaboration integrates Agentforce 360 with Google Workspace for sales and IT service, extending the existing Gemini integration in Gmail to more Workspace tools.
The partnership allows customers to use Gemini models to power Salesforce's Atlas Reasoning Engine.
Salesforce stock tanked over 29% year-to-date. Analysts see Salesforce's second-quarter results as strong but tempered by cautious guidance. Needham's Scott Berg noted the company beat expectations on revenue and earnings but highlighted muted near-term guidance, while pointing to a 20% increase in sales headcount as a potential driver of future bookings. Canaccord Genuity's David Hynes called the quarter "steady, not spectacular," citing 9% constant-currency revenue growth and timing-related license recognition, yet he emphasized 120% year-over-year growth in Data Cloud and Agentforce ARR.
Price Action: CRM stock is trading higher by 6.75% to $252.55 premarket at last check on Thursday.
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