Salesforce Jumps 22% Weekly After Anthropic Collaboration, Halts 20-Month Slide

Salesforce shares rose 22.4% in the week ended Aug. 24, their largest weekly gain in years, coming after record quarterly results and an expanded partnership with Anthropic.

The surge ended a 20-month decline and moved Salesforce (CRM) out of its position as the poorest-performing Dow stock in 2026.

Record Quarter and Claudeforce Deal Reset the Bear Case

Salesforce posted second-quarter revenue of $11.3 billion, an 11% increase from a year earlier. On a constant-currency basis, current remaining performance obligations rose 14%, reaching $33.5 billion.

Agentforce's annual recurring revenue exceeded $1.5 billion, representing a 240% jump. The company's management lifted its full-year outlook to between $46.1 billion and $46.4 billion.

Anthropic and Salesforce unveiled Claudeforce that same evening, integrating Claude models into enterprise workflows. This countered the narrative that AI agents would make seat-based software obsolete.

Salesforce × @AnthropicAI

The #1 AI meets the #1 CRM

Rise and shine, Claudeforce pic.twitter.com/der7yBUouP

— Salesforce (@salesforce) September 2, 2026

That argument had already been heavily priced in by investors. By its July trough, Salesforce had fallen roughly 35% for the year.

An important caveat: about $2.43 per share of the earnings surprise stemmed from a gain on Salesforce's own investment in Anthropic.

Weekly Chart Confirms a 20-Month Breakout

The price broke above the descending trendline that had capped every rally since January 2025. CRM also recaptured its 200-week moving average near $232.

That moving average had held as support on four occasions before breaking in early 2026. Weekly volume was the highest on record, and the relative strength index (RSI) rose to 70.

CRM Price Prediction Points to $282 With $230 as the Floor

The breakout occurred on Aug. 19, with a retest at $198.95 on Aug. 26. The stock then gapped open at $230.05, landing on the 0.382 Fibonacci retracement level.

CRM's most recent close was $256.93, pausing at the 0.5 retracement level of $256.71. If it breaks above the December swing high around $267, the next target could be $282.76, roughly 10% above current levels.

Support is at $230.65, where the 0.382 Fibonacci level, the rising Supertrend, and the 200-week moving average converge. A drop below that could bring $198.42 back into view.

Momentum signals caution. With the daily RSI around 80 and the stock trading 37% above its 50-day moving average, the move appears extended. Nvidia traders saw a comparable earnings spike evaporate last week.

Maintaining above $230 keeps the breakout valid. Falling below would mean the gap was an overshoot.