Salesforce Prices $25 Billion Senior Notes Offering to Fund Stock Buybacks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2026
0mins
Should l Buy CRM?
Source: Benzinga
- Bond Offering Size: Salesforce has announced a $25 billion senior notes offering aimed at repurchasing common stock through accelerated share repurchase (ASR) agreements, indicating proactive capital management despite challenges in the SaaS market.
- Strong Earnings Performance: Despite the difficulties faced by the SaaS industry, Salesforce reported fourth-quarter revenue of $11.2 billion on February 25, surpassing the $11.18 billion consensus, demonstrating robust market competitiveness even in adversity.
- Technical Analysis Signals: Salesforce's stock is currently trading 6.1% above its 20-day simple moving average but remains 12.6% below its 100-day simple moving average, indicating a short-term bounce while the overall trend remains weak, suggesting caution for investors.
- Future Outlook: The upcoming earnings report on May 27 is expected to show an EPS of $2.79 and revenue of $11.06 billion, representing year-over-year increases of 8.1% and 12.5%, respectively, which will serve as a significant catalyst for stock price movement.
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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: 181.820
Low
223.00
Averages
326.40
High
405.00
Current: 181.820
Low
223.00
Averages
326.40
High
405.00
About CRM
Salesforce, Inc. is a customer relationship management (CRM) technology company. Its artificial intelligence (AI) powered Agentforce 360 Platform offers sales, service, marketing, commerce, collaboration, data management, integration, analytics, and information technology (IT) service solutions. It enables customers to build and deploy digital labor for employees and customers, leveraging autonomous AI agents across business functions. Its service offerings include Agentforce Sales, Agentforce Service, Agentforce 360 Platform, Slack and Others. The Agentforce Sales provides sales capabilities and tools built for organizations across prospecting, sales engagement, team collaboration, sales analytics and AI, sales programs, sales performance, partner management, and revenue and orders. The Agentforce Service provides field service solutions that enable companies to connect service agents, dispatchers and mobile employees through platform to schedule, dispatch and manage jobs.
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 Shares Decline Amid AI Concerns Despite Strong Earnings
- Strong Performance Yet Declining Stock: Salesforce reported $11.2 billion in revenue for Q4 FY2026, a 12% year-over-year increase, but the stock has dropped over 30% in 2026, reflecting market concerns about AI's impact.
- Cash Flow and Buyback Plans: The company saw a 16% increase in free cash flow to $14.4 billion for the year and returned $14.3 billion to shareholders, while authorizing a $50 billion stock repurchase program, demonstrating commitment to shareholder value.
- Rapid AI Business Growth: The Agentforce platform achieved $800 million in annual recurring revenue, up 169% year-over-year, and combined with Data 360, AI-related revenue exceeded $2.9 billion, marking over 200% growth and indicating AI as a new growth driver.
- Ongoing Market Concerns: Despite Salesforce's proactive measures to address AI threats, such as launching the “Agentic Enterprise License Agreement,” fears that AI may undermine the software-as-a-service model persist, putting pressure on the stock price.
See More
Figma's Stock Plummets 83% Amid AI Disruption Concerns
- Stock Price Plunge: Figma's stock has fallen 83% since its IPO last July, despite the company continuing to deliver strong growth, reflecting market concerns over its valuation and the impact of AI competition, particularly from Anthropic's Claude Design, which poses a direct threat to its market position.
- Opportunity to Counter AI Narrative: Figma is set to report its first-quarter earnings on May 14, providing management with a chance to demonstrate to investors how the company is addressing the challenges posed by AI, especially after launching its own AI tools, which could alleviate market concerns about its future.
- Signs of Software Stock Recovery: Despite pressures on Figma, the broader software sector has rebounded over 20% in recent weeks after a sharp decline earlier this year, indicating that market fears regarding the software industry may have been exaggerated, which could benefit Figma.
- Potential for Earnings Beat: Figma has exceeded revenue estimates in all three of its earnings reports since going public, with a projected 38% growth for Q1; if it continues to beat estimates and raises its guidance, the stock could see significant gains, as its price-to-sales ratio of 10 remains reasonable for a fast-growing cloud company.
See More
Figma Shares Plunge Amid AI Competition and Market Concerns
- Stock Price Plunge: Figma's shares have fallen 83% since its IPO, despite the company maintaining strong growth, reflecting market concerns over its valuation and the impact of AI competition, particularly from Anthropic's Claude Design.
- Earnings Expectations: Figma is set to report its first-quarter earnings on May 14, which could mark a turning point for the stock, with market attention focused on whether it can exceed the 38% growth forecast, despite a full-year estimate of only 30%.
- Market Recovery: Although software stocks sharply declined at the start of the year, the iShares Expanded Tech-Software ETF has rebounded over 20% in the past month, indicating a gradual restoration of market confidence in the software sector, which may provide support for Figma's stock price.
- AI Transition Preparedness: Figma has begun launching AI-enabled tools and making acquisitions to address market concerns about AI, with management set to demonstrate the company's growth potential amid AI threats during the upcoming earnings call.
See More
Analysis of Salesforce Holdings Changes
- Overview of Holdings Changes: As of March 31, 2026, 24 hedge funds held Salesforce (CRM), indicating ongoing interest in the stock, despite differing positions among funds.
- Increase and Decrease in Positions: Among these funds, 11 increased their CRM holdings from December 31, 2025, to March 31, 2026, while 10 decreased their positions, suggesting a mixed sentiment towards CRM in the market.
- Aggregate Holdings Growth: The total CRM shares held by hedge funds rose from 119,938,250 to 199,831,400 shares, representing an increase of approximately 66.61%, reflecting a generally bullish trend towards CRM.
- Key Fund Movements: Four funds, including Beacon Capital Management, exited their CRM positions as of March 31, 2026, indicating a shift in perspective among some institutions that could impact market sentiment.
See More
Stocks Hit Record Highs Amid Mixed Economic Data
- Strong Market Performance: The S&P 500 rose 2.3% and the Nasdaq gained 4.5%, marking their longest winning streak since 2024 with six consecutive weeks of gains, reflecting investor confidence in economic recovery.
- Employment Data Impact: April's nonfarm payrolls increased by 115,000, significantly exceeding economists' expectations of 55,000, while the unemployment rate held steady at 4.3%, complicating the Federal Reserve's interest rate decisions amid resilient labor market conditions.
- Cybersecurity Stocks Rebound: Shares of CrowdStrike and Palo Alto Networks surged 16% and 15%, respectively, driven by Fortinet's strong earnings report and raised full-year billings guidance, indicating a renewed confidence in the cybersecurity sector.
- Optical Technology Partnership: Corning's stock jumped 18% following a major supply agreement with Nvidia, projecting a $20 billion annualized sales run rate by 2026 and a 50% increase in fiber production capacity to meet soaring AI infrastructure demands.
See More
U.S. Stocks Close Higher, Nasdaq Hits Record High
- Strong Market Performance: The S&P 500 rose by 0.84% and the Nasdaq 100 increased by 2.35%, reaching record highs, reflecting market optimism driven by robust corporate earnings despite concerns over the Iran conflict.
- Support from Employment Data: U.S. nonfarm payrolls for April increased by 115,000, surpassing expectations of 65,000, with March figures revised up to 185,000, indicating resilience in the labor market and further boosting stock prices.
- Decline in Consumer Confidence: The University of Michigan's May consumer sentiment index fell to a record low of 48.2, below the expected 49.5, highlighting economic uncertainty that could impact future consumer spending.
- Oil Market Volatility: Iran's seizure of an oil tanker in the Strait of Hormuz led to a rise in WTI crude prices, with expectations that this incident will affect global oil supply, potentially causing further price fluctuations.
See More
Salesforce Shares Decline Amid AI Concerns Despite Strong Earnings
- Strong Performance Yet Declining Stock: Salesforce reported $11.2 billion in revenue for Q4 FY2026, a 12% year-over-year increase, but the stock has dropped over 30% in 2026, reflecting market concerns about AI's impact.
- Cash Flow and Buyback Plans: The company saw a 16% increase in free cash flow to $14.4 billion for the year and returned $14.3 billion to shareholders, while authorizing a $50 billion stock repurchase program, demonstrating commitment to shareholder value.
- Rapid AI Business Growth: The Agentforce platform achieved $800 million in annual recurring revenue, up 169% year-over-year, and combined with Data 360, AI-related revenue exceeded $2.9 billion, marking over 200% growth and indicating AI as a new growth driver.
- Ongoing Market Concerns: Despite Salesforce's proactive measures to address AI threats, such as launching the “Agentic Enterprise License Agreement,” fears that AI may undermine the software-as-a-service model persist, putting pressure on the stock price.
See More
Figma's Stock Plummets 83% Amid AI Disruption Concerns
- Stock Price Plunge: Figma's stock has fallen 83% since its IPO last July, despite the company continuing to deliver strong growth, reflecting market concerns over its valuation and the impact of AI competition, particularly from Anthropic's Claude Design, which poses a direct threat to its market position.
- Opportunity to Counter AI Narrative: Figma is set to report its first-quarter earnings on May 14, providing management with a chance to demonstrate to investors how the company is addressing the challenges posed by AI, especially after launching its own AI tools, which could alleviate market concerns about its future.
- Signs of Software Stock Recovery: Despite pressures on Figma, the broader software sector has rebounded over 20% in recent weeks after a sharp decline earlier this year, indicating that market fears regarding the software industry may have been exaggerated, which could benefit Figma.
- Potential for Earnings Beat: Figma has exceeded revenue estimates in all three of its earnings reports since going public, with a projected 38% growth for Q1; if it continues to beat estimates and raises its guidance, the stock could see significant gains, as its price-to-sales ratio of 10 remains reasonable for a fast-growing cloud company.
See More
Figma Shares Plunge Amid AI Competition and Market Concerns
- Stock Price Plunge: Figma's shares have fallen 83% since its IPO, despite the company maintaining strong growth, reflecting market concerns over its valuation and the impact of AI competition, particularly from Anthropic's Claude Design.
- Earnings Expectations: Figma is set to report its first-quarter earnings on May 14, which could mark a turning point for the stock, with market attention focused on whether it can exceed the 38% growth forecast, despite a full-year estimate of only 30%.
- Market Recovery: Although software stocks sharply declined at the start of the year, the iShares Expanded Tech-Software ETF has rebounded over 20% in the past month, indicating a gradual restoration of market confidence in the software sector, which may provide support for Figma's stock price.
- AI Transition Preparedness: Figma has begun launching AI-enabled tools and making acquisitions to address market concerns about AI, with management set to demonstrate the company's growth potential amid AI threats during the upcoming earnings call.
See More
Analysis of Salesforce Holdings Changes
- Overview of Holdings Changes: As of March 31, 2026, 24 hedge funds held Salesforce (CRM), indicating ongoing interest in the stock, despite differing positions among funds.
- Increase and Decrease in Positions: Among these funds, 11 increased their CRM holdings from December 31, 2025, to March 31, 2026, while 10 decreased their positions, suggesting a mixed sentiment towards CRM in the market.
- Aggregate Holdings Growth: The total CRM shares held by hedge funds rose from 119,938,250 to 199,831,400 shares, representing an increase of approximately 66.61%, reflecting a generally bullish trend towards CRM.
- Key Fund Movements: Four funds, including Beacon Capital Management, exited their CRM positions as of March 31, 2026, indicating a shift in perspective among some institutions that could impact market sentiment.
See More
Stocks Hit Record Highs Amid Mixed Economic Data
- Strong Market Performance: The S&P 500 rose 2.3% and the Nasdaq gained 4.5%, marking their longest winning streak since 2024 with six consecutive weeks of gains, reflecting investor confidence in economic recovery.
- Employment Data Impact: April's nonfarm payrolls increased by 115,000, significantly exceeding economists' expectations of 55,000, while the unemployment rate held steady at 4.3%, complicating the Federal Reserve's interest rate decisions amid resilient labor market conditions.
- Cybersecurity Stocks Rebound: Shares of CrowdStrike and Palo Alto Networks surged 16% and 15%, respectively, driven by Fortinet's strong earnings report and raised full-year billings guidance, indicating a renewed confidence in the cybersecurity sector.
- Optical Technology Partnership: Corning's stock jumped 18% following a major supply agreement with Nvidia, projecting a $20 billion annualized sales run rate by 2026 and a 50% increase in fiber production capacity to meet soaring AI infrastructure demands.
See More
U.S. Stocks Close Higher, Nasdaq Hits Record High
- Strong Market Performance: The S&P 500 rose by 0.84% and the Nasdaq 100 increased by 2.35%, reaching record highs, reflecting market optimism driven by robust corporate earnings despite concerns over the Iran conflict.
- Support from Employment Data: U.S. nonfarm payrolls for April increased by 115,000, surpassing expectations of 65,000, with March figures revised up to 185,000, indicating resilience in the labor market and further boosting stock prices.
- Decline in Consumer Confidence: The University of Michigan's May consumer sentiment index fell to a record low of 48.2, below the expected 49.5, highlighting economic uncertainty that could impact future consumer spending.
- Oil Market Volatility: Iran's seizure of an oil tanker in the Strait of Hormuz led to a rise in WTI crude prices, with expectations that this incident will affect global oil supply, potentially causing further price fluctuations.
See More
