Shares of Salesforce (NYSE:CRM) are decrease in as we speak’s buying and selling session, which could be attributed to an analyst downgrade. Peter Sazel of Atlantic Equities modified his score from Purchase to Maintain whereas assigning a worth goal of $140 per share. For reference, his earlier worth goal was $200.
Sazel is worried about Salesforce’s slowing progress charge and isn’t positive that it will possibly return to earlier ranges. He cited administration departures and layoffs as catalysts that might influence the corporate’s potential to win new offers. As well as, Sazel famous that the dearth of steerage from administration is an indication that the chance of income slowdown is rising.
General, Wall Avenue analysts are bullish on CRM stock with a Reasonable Purchase score. As well as, the consensus worth goal of $189.25 implies 28.4% upside potential, as indicated by the graphic above.