U.S. Stocks Pre-market Movement | Salesforce falls 2.8% pre-market as Q2 revenue guidance misses expectations and several major banks lower target prices

Golden Ten Data, May 28｜Salesforce (CRM.US) dropped 2.8% in pre-market trading, quoted at $172.6. In the latest news, Salesforce’s first-quarter revenue rose 13% year-on-year to $11.133 billion, beating analysts’ expectations of $11.05 billion. Agentforce’s annual recurring revenue (ARR) surpassed $1.2 billion, while Data 360-related business contributed, bringing the combined ARR from AI and data to about $3.4 billion, up more than 200% year-on-year. Looking ahead to the second quarter, the company expects revenue to range between $11.27 billion and $11.35 billion, below analysts’ expectations of $11.4 billion. After the earnings release, several major investment banks lowered their target price for Salesforce. One exchange cut its target price from $252 to $236, and another exchange lowered its target from $250 to $225.