Significant Inflows Observed in ETF for IWB, WMT, CRM, PEP
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2025
0mins
Source: NASDAQ.COM
IWB Share Price Analysis: IWB's share price is currently at $371.21, with a 52-week low of $264.17 and a high of $377.77, indicating a relatively stable position within its trading range.
Understanding ETFs: Exchange-traded funds (ETFs) function like stocks, where investors buy and sell "units" that can be created or destroyed based on demand, impacting the underlying assets.
Monitoring ETF Flows: Weekly monitoring of changes in shares outstanding helps identify ETFs with significant inflows or outflows, which can affect the individual components held within those ETFs.
Author's Perspective: The views expressed in the article are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
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Analyst Views on CRM
Wall Street analysts forecast CRM stock price to rise
39 Analyst Rating
29 Buy
9 Hold
1 Sell
Moderate Buy
Current: 198.790
Low
223.00
Averages
326.40
High
405.00
Current: 198.790
Low
223.00
Averages
326.40
High
405.00
About CRM
Salesforce, Inc. is a provider of customer relationship management (CRM) technology. The Company helps organizations of any size reimagine their business for the world of artificial intelligence (AI). With Agentforce, its platform, organizations can bring humans together with AI agents to drive customer success on one deeply unified platform. With the Salesforce platform, it delivers a single source of truth, connecting customer data with integrated AI across systems, apps and devices to help companies sell, service, market and conduct commerce from anywhere. Agentforce is a new layer of the Salesforce platform that enables companies to build and deploy AI agents that can respond to inputs, make decisions and take action autonomously across business functions. Agentforce includes a suite of customizable agents for use across sales, service, marketing and commerce. Datablazer is a data-driven innovator, which leverages the Company’s platform to unlock insights and drive decisions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Salesforce's AI Platform Sees Strong Growth Amid Market Concerns
- Agentforce Performance: Salesforce's Agentforce platform has closed over 29,000 deals in the first 15 months of fiscal 2026, with annual recurring revenue (ARR) growing 169% to $800 million, indicating strong traction in the enterprise AI space despite a 26% drop in stock price.
- Core Business Resilience: The company reported $41.5 billion in revenue for fiscal 2026, a 10% year-over-year increase, with nearly 95% of revenue coming from subscription and support contracts, ensuring strong visibility into future quarters amid concerns about AI disrupting traditional SaaS models.
- Acquisition and Integration: In November 2025, Salesforce completed an $8 billion acquisition of Informatica, an enterprise AI-powered cloud data management firm, which contributed $399 million to Salesforce's revenue in fiscal 2026, further strengthening its AI ecosystem.
- Shareholder Return Program: Salesforce returned over $14 billion to shareholders in fiscal 2026, representing 99% of its free cash flow, demonstrating a commitment to shareholder value even as its price-to-earnings ratio stands at 25.1, significantly lower than its historical average of 132.06.
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- Salesforce Bond Plan: Salesforce is reportedly planning to raise up to $25 billion through bond issuance to fund its massive stock buyback plan, underscoring the company's urgency to repurchase shares at depressed prices to enhance shareholder value.
- Market Sentiment Shift: Despite Salesforce's shares declining 26% year-to-date, there are mixed views on its valuation, with some investors believing that the current price levels present an attractive entry point, potentially drawing in more capital.
- Retail Investor Sentiment: Retail sentiment towards Salesforce and its peers remains bearish, particularly after the company lowered its 2027 sales guidance, reflecting concerns over demand for enterprise software.
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- ServiceNow Strong Performance: ServiceNow reported subscription revenue of $3.47 billion in Q4, a 21% year-over-year increase, with current RPO climbing 25% to $12.85 billion, signaling robust market demand and significant future growth potential.
- Successful AI Monetization: Salesforce's Agentforce platform achieved $800 million in annual recurring revenue, a 169% year-over-year increase, while ServiceNow's Now Assist annual contract value surpassed $600 million, showcasing both companies' successful application of AI, potentially driving new growth avenues.
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- Future Outlook: ServiceNow anticipates Q1 2026 subscription revenue of up to $3.66 billion, implying approximately 21.5% year-over-year growth, contrasting with Salesforce's fiscal 2027 organic growth outlook of only 7% to 8%, indicating a stronger competitive stance for ServiceNow.
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- Share Repurchase Plans: ServiceNow announced a $5 billion share repurchase program, further bolstering investor confidence, whereas Salesforce, despite its lower valuation, faces cautious investor sentiment due to its decelerating growth trend.
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- Partner Expansion: Ahead of the upcoming GPU Technology Conference, Nvidia has reached out to major software companies like Alphabet, Salesforce, and Adobe to seek partnerships that will accelerate the development and deployment of AI agents, showcasing its leadership in the AI sector.
- Security and Privacy Assurance: Nvidia will provide additional security and privacy tools for NemoClaw, ensuring enterprise users' safety while using AI agents, a move that will enhance user trust and promote platform adoption.
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- Buyback Program Context: In February, Salesforce announced a $50 billion stock repurchase program aimed at boosting market confidence through increased shareholder value, with this debt issuance expected to provide essential funding for that initiative.
- Market Participants: Salesforce has mandated JPMorgan Chase, Bank of America, Barclays, Citigroup, and Wells Fargo to arrange fixed-income investor calls, indicating proactive communication and transparency with the market, with bonds potentially being sold as soon as this week.
- Historical Financing: The last time Salesforce accessed the U.S. bond market was in 2021 when it raised $8 billion to fund its acquisition of Slack; this new debt issuance will not only strengthen its capital structure but also provide funding flexibility for future acquisitions and investments.
See More
Salesforce's AI Platform Sees Strong Growth Amid Market Concerns
- Agentforce Performance: Salesforce's Agentforce platform has closed over 29,000 deals in the first 15 months of fiscal 2026, with annual recurring revenue (ARR) growing 169% to $800 million, indicating strong traction in the enterprise AI space despite a 26% drop in stock price.
- Core Business Resilience: The company reported $41.5 billion in revenue for fiscal 2026, a 10% year-over-year increase, with nearly 95% of revenue coming from subscription and support contracts, ensuring strong visibility into future quarters amid concerns about AI disrupting traditional SaaS models.
- Acquisition and Integration: In November 2025, Salesforce completed an $8 billion acquisition of Informatica, an enterprise AI-powered cloud data management firm, which contributed $399 million to Salesforce's revenue in fiscal 2026, further strengthening its AI ecosystem.
- Shareholder Return Program: Salesforce returned over $14 billion to shareholders in fiscal 2026, representing 99% of its free cash flow, demonstrating a commitment to shareholder value even as its price-to-earnings ratio stands at 25.1, significantly lower than its historical average of 132.06.
See More
Salesforce Plans to Raise $25 Billion for Stock Buyback via Bonds
- Leverage Analysis: Oracle stands out as the most leveraged among key enterprise software companies, with a debt-to-equity ratio of 3.9 and a net debt-to-EBITDA ratio of 14.2, indicating significantly higher financial risk compared to Salesforce and its peers.
- Salesforce Bond Plan: Salesforce is reportedly planning to raise up to $25 billion through bond issuance to fund its massive stock buyback plan, underscoring the company's urgency to repurchase shares at depressed prices to enhance shareholder value.
- Market Sentiment Shift: Despite Salesforce's shares declining 26% year-to-date, there are mixed views on its valuation, with some investors believing that the current price levels present an attractive entry point, potentially drawing in more capital.
- Retail Investor Sentiment: Retail sentiment towards Salesforce and its peers remains bearish, particularly after the company lowered its 2027 sales guidance, reflecting concerns over demand for enterprise software.
See More
Software Stocks Struggle at Start of 2026
- Salesforce Growth Slowdown: Salesforce's non-GAAP operating margin expanded to 34.2% in Q4 2026, yet its organic revenue growth decelerated to approximately 8%, indicating a weakening growth momentum that could impact future profitability.
- ServiceNow Strong Performance: ServiceNow reported subscription revenue of $3.47 billion in Q4, a 21% year-over-year increase, with current RPO climbing 25% to $12.85 billion, signaling robust market demand and significant future growth potential.
- Successful AI Monetization: Salesforce's Agentforce platform achieved $800 million in annual recurring revenue, a 169% year-over-year increase, while ServiceNow's Now Assist annual contract value surpassed $600 million, showcasing both companies' successful application of AI, potentially driving new growth avenues.
- Stock Buyback Plans: ServiceNow announced an additional $5 billion stock repurchase authorization and a $2 billion accelerated buyback, reflecting management's confidence in the company's future growth while potentially enhancing shareholder value.
See More
ServiceNow vs. Salesforce: Q4 Performance Analysis
- Revenue Growth Comparison: ServiceNow's Q4 subscription revenue reached $3.47 billion, marking a 21% year-over-year increase, while Salesforce's organic revenue growth cooled to 8%, highlighting a significant performance disparity that positions ServiceNow favorably for future growth.
- Future Outlook: ServiceNow anticipates Q1 2026 subscription revenue of up to $3.66 billion, implying approximately 21.5% year-over-year growth, contrasting with Salesforce's fiscal 2027 organic growth outlook of only 7% to 8%, indicating a stronger competitive stance for ServiceNow.
- Cash Flow Performance: ServiceNow boasts a staggering 57% free cash flow margin in Q4, showcasing its robust cash generation capabilities, while Salesforce's operating margin improved from 33.1% to 34.2%, yet its overall growth momentum has weakened, impacting its long-term appeal.
- Share Repurchase Plans: ServiceNow announced a $5 billion share repurchase program, further bolstering investor confidence, whereas Salesforce, despite its lower valuation, faces cautious investor sentiment due to its decelerating growth trend.
See More
Nvidia to Launch Open-Source AI Agent Platform NemoClaw
- AI Agent Platform Launch: Nvidia is set to unveil an open-source AI agent platform named NemoClaw, designed to assist employees in efficiently completing complex tasks, which is expected to drive widespread adoption and innovation in AI technology.
- Partner Expansion: Ahead of the upcoming GPU Technology Conference, Nvidia has reached out to major software companies like Alphabet, Salesforce, and Adobe to seek partnerships that will accelerate the development and deployment of AI agents, showcasing its leadership in the AI sector.
- Security and Privacy Assurance: Nvidia will provide additional security and privacy tools for NemoClaw, ensuring enterprise users' safety while using AI agents, a move that will enhance user trust and promote platform adoption.
- Significant Market Potential: Nvidia CEO Jensen Huang noted that the use of AI agents will increase data processing by 1,000 times, highlighting the demand for computational power and providing strong momentum for Nvidia's future growth.
See More
Salesforce Plans $25B Debt Offering for Stock Buyback
- Debt Offering Size: Salesforce is planning to issue up to $25 billion in debt in the U.S. bond market to fund its stock buyback program, marking the company's largest-ever note sale and demonstrating a strong commitment to enhancing shareholder returns.
- Buyback Program Context: In February, Salesforce announced a $50 billion stock repurchase program aimed at boosting market confidence through increased shareholder value, with this debt issuance expected to provide essential funding for that initiative.
- Market Participants: Salesforce has mandated JPMorgan Chase, Bank of America, Barclays, Citigroup, and Wells Fargo to arrange fixed-income investor calls, indicating proactive communication and transparency with the market, with bonds potentially being sold as soon as this week.
- Historical Financing: The last time Salesforce accessed the U.S. bond market was in 2021 when it raised $8 billion to fund its acquisition of Slack; this new debt issuance will not only strengthen its capital structure but also provide funding flexibility for future acquisitions and investments.
See More
