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Salesforce shares jump as $60 billion forecast boosts investor confidence

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Salesforce shares jump as $60 billion forecast boosts investor confidence

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Salesforce shares rose more than 6% in premarket trading on Thursday after the company projected over $60 billion in revenue by 2030, easing investor concerns over slowing growth amid rising competition from AI-powered tools.

The optimistic forecast, announced at Salesforce’s Dreamforce event, signals a strong recovery for the Marc Benioff-led firm, which earlier this year reported its first revenue decline in nearly three years. The projection excludes the impact of Salesforce’s planned $8 billion acquisition of Informatica, expected to close in the first half of 2026.

The deal will strengthen Salesforce’s artificial intelligence capabilities, integrating Informatica’s data management and governance tools into its cloud ecosystem. Analysts said the improved outlook and a $7 billion share buyback plan reflect management’s “confidence in durable free cash flow and sustained bookings growth.”

J.P. Morgan analysts noted that the new forecast could “shift the narrative toward sustainable double-digit growth,” while Jefferies said Salesforce’s expanding margins could bring it in line with other large-cap peers by the end of the decade.

Salesforce has been rapidly embedding AI partnerships into its platform, expanding collaborations with OpenAI and Anthropic to enhance its Agentforce 360 system. The company has also pledged to invest $15 billion in San Francisco over the next five years to drive AI adoption across its services.

Infosys Approves Record $2 Billion Share Buyback

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Infosys, India’s second-largest IT services provider, said Thursday it has approved a share buyback of 180 billion rupees ($2.04 billion), the biggest in its history. The company set a buyback price of 1,800 rupees per share, with the repurchase to be carried out through the tender offer route.

This marks Infosys’ fifth buyback, following its last repurchase in 2022–2023.

Market analyst Gaurav Vasu, founder of UnearthInsight, noted that Indian IT firms remain investor-friendly and service-driven, but suggested they should also explore mergers & acquisitions and focus on developing AI and cloud products, similar to U.S. tech giants.

Following the announcement, Infosys’ U.S.-listed shares edged up 0.03% to $16.99, while its Mumbai-listed shares closed 1.5% lower at 1,509.7 rupees.

Cognizant Increases Share Buyback Plan by $2 Billion Amid Economic Challenges

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Cognizant Technology (CTSH.O) announced on Tuesday that its board has approved a $2 billion increase to its existing share repurchase program, bringing the total authorized amount to $3.1 billion. The company now expects to repurchase $1.1 billion worth of shares this year, a $500 million increase over previous expectations.

This move comes as part of Cognizant’s ongoing efforts to enhance shareholder returns, despite facing challenges in the IT services market. Shares of the company rose 1.7% in early trading following the announcement. Cognizant is set to host its investor day later today, where it will unveil its long-term growth strategies, including plans to improve its artificial intelligence (AI) offerings.

The company has been grappling with fluctuating IT services demand due to economic uncertainty and high interest rates, which have put pressure on enterprise budgets and caused clients to reduce spending. This uncertainty led to Cognizant lowering its annual revenue forecast last month, falling short of analysts’ expectations.

In addition to these financial concerns, Cognizant is also dealing with activist investor involvement from Mantle Ridge, which has been in discussions with the company since mid-2024. The Wall Street Journal reported earlier this month that Mantle Ridge has acquired a stake worth more than $1 billion in Cognizant and has been privately engaging with the company to address its performance and share price growth.