Salesforce (CRM) hosted its annual analysts' day yesterday, together with the return of Dreamforce event since 2019. Shares of Salesforce rose approx. 7%. First, company now expects revenue for this year (which they call it FY2022) to be as high as $26.35 billion, up from August's forecast of $26.3 billion. For the next year (which they call it FY2023), Salesforce expects $31.65 - $31.80 billion, topping the average estimate of $31.47 billion (Refinitiv). Second, Salesforce continues to reassure analysts and investors that the Slack integration is going to prove fruitful, not just by bringing in hundreds of millions of dollars but also will enable Salesforce to operate a more remote workforce, cutting back on spending for travel. Third, Salesforce told analysts in August that the Slack deal will negatively impact its adjusted operating margins; however, the company now says that its adjusted operating margin for next year will be 20%, which is stronger than the 19.2% consensus among analysts (StreetAccount). 

Now let's analyze the chart of Salesforce. We actually don't need to draw anything, just look at the price action. We're now basically back to the all time high made in August 2020.  We've cleared all the high volume price areas (see volume bars on the left), so there are no major hurdles ahead of the stock. The stock is at a completely new phase now, a re-rating phase, and how much it comes up will depend on how much valuation will the market give it. We don't know how much, but it certainly will be higher than 280$ based on the analysts' target prices.