Salesforce Inc. (NYSE: CRM) stock rose more than 2% in Tuesday's premarket session, outperforming a weaker broader market. Nasdaq futures were down 1.13%, while S&P 500 futures slipped 0.22%. Traders appeared to be building on Salesforce's rebound after the stock hit a recent swing low in June. The stock is also attempting to recover after breaking below a previous support level last month.
Tuesday's gain suggests investors are testing whether the recent bounce can continue despite a risk-off market backdrop.
AI Investment Expands Global Strategy
Separately, Salesforce announced Tuesday that it will invest $1 billion in Switzerland over the next five years to accelerate the country's adoption of agentic artificial intelligence.
CEO Marc Benioff unveiled the investment ahead of the AI for Good Global Summit in Geneva. The funding will support Salesforce's local workforce, customers, partners and AI skills development across Switzerland.
The company said the investment builds on its long-standing presence in the country, where it has operated since 2004. Salesforce said Swiss organizations, including Syngenta Group, Oviva, FREITAG and the World Economic Forum, are already using its Agentforce AI platform to automate customer service, improve productivity and deploy AI agents.
The announcement underscores Salesforce's broader push to expand its enterprise AI business as it rolls out Agentforce globally.
Salesforce Technical Picture Remains Mixed
Salesforce is trading about 4% above its 20-day simple moving average, indicating short-term momentum has improved. However, the stock remains 2.7% below its 50-day moving average and well below its 200-day moving average.
The longer-term trend remains bearish because the 20-day moving average is below the 50-day, and the 50-day remains below the 200-day. Until Salesforce reclaims those levels, rallies may face selling pressure.
The relative strength index sits at 49.01, placing the stock in neutral territory. That suggests momentum is balanced rather than signaling an overbought or oversold condition.
Immediate resistance stands near $187.50, while support is around $164.00, close to the 20-day moving average.
Despite the recent rebound, Salesforce remains down 38.6% over the past 12 months. The stock also trades well below its 52-week high of $276.80, although it has recovered from its June low of $146.32.
Earnings Remain the Next Major Catalyst
Salesforce is expected to report quarterly results on Sept. 2.
Wall Street expects earnings of $3.09 per share, up from $2.91 a year earlier. Revenue is projected to increase to $11.31 billion from $10.24 billion.
Analysts maintain an overall Buy rating on the stock, with an average price forecast of $245.
Recent analyst actions include Guggenheim upgrading Salesforce to Buy with a $228 price forecast on July 1. Needham reiterated its Buy rating and $400 price forecast on June 16, while Canaccord Genuity maintained its Buy rating with a $225 price forecast the same day.
Salesforce Top ETF Exposure
Salesforce is a major holding in several technology-focused exchange-traded funds, including the SmartETFs Advertising and Marketing Technology ETF (NYSE: MRAD), the iShares Expanded Tech-Software Sector ETF (NYSE: IGV) and the First Trust Dow Jones Internet Index Fund (NYSE: FDN). Fund flows into or out of these ETFs can influence demand for Salesforce shares.
Price Action
CRM Stock Price Activity: Salesforce shares were up 2.18% at $169.26 during premarket trading on Tuesday, according to Benzinga Pro data.