Benzinga | Sep 23, 2021 11:20AM EDT

Why Salesforce Shares Are Rising Today

Salesforce.com Inc (NYSE:CRM) is trading higher Thursday morning after the company announced it raised its fiscal year 2022 guidance and initiated fiscal year 2023 guidance.

Salesforce now expects its fiscal year 2022 revenue to be in a range of $26.25 billion to $26.35 billion versus the estimate of $26.31 billion. The company initiated fiscal year 2023 revenue guidance of $31.65 billion to $31.8 billion.

Salesforce is set to hold its annual Investor Day presentation today at 11 a.m. ET.

Salesforce provides enterprise cloud computing solutions, including Sales Cloud, the company's main customer relationship management software-as-a-service product.

CRM Price Action: Salesforce has traded as high as $275.22 and as low as $201.51 over a 52-week period.

The stock was up 3.52% at $268.30 at time of publication.

Photo: courtesy of Salesforce.