Davenport & Co boosted its Salesforce stake by 35.9% in Q2 amid strong earnings and raised guidance.

Davenport & Co LLC increased its stake in Salesforce (CRM) by 35.9% in Q2, now holding 25,539 shares worth about $6.96 million. The company reported strong Q2 results, with earnings of $2.91 per share—$0.13 above estimates—and revenue of $10.24 billion, up 9.8% year-over-year. Salesforce raised its fiscal 2026 EPS guidance to $11.33–$11.37 and set Q3 2026 guidance at $2.84–$2.86. The stock trades near $240, with a 50-day moving average of $245.62 and a 200-day average of $259.67. Analysts give a consensus "Moderate Buy" rating with a $332.58 target. Salesforce has a market cap of $228.4 billion, a P/E of 34.87, and a debt-to-equity ratio of 0.14.