The Selloff Didn't Stop Salesforce From Spending $2.7 Billion on an AI Startup

Impact · against what's priced in

Salesforce's acquisition of Cresta is a marginal negative due to the high 27x ARR multiple and increasing integration risks from a $15.5 billion annual M&A spree. ServiceNow's price already accounts for the AI-driven growth expectations, making the recent sell-off a reflection of the market's refusal to pay for aggressive revenue targets.

CRM−0.20

Challenges what's priced in

The price assumes