Why Salesforce Was Falling Today, Even as the Nasdaq Rallied
One Wall Street analyst says the company's AI transition isn't happening fast enough.
Overview
Shares of software giant Salesforce (NYSE: CRM) were falling on Tuesday, down as much as 3.9% in early trading, before recovering slightly to a 2.7% decline as of 1:30 p.m. EDT.
The move was somewhat notable, given that the broader Nasdaq Composite was up by about 1.4% at the same time.
Details
Salesforce was on the receiving end of a Wall Street analyst's downgrade today, along with a big price target cut. That led to a sell-off; however, given the stock's bargain-basement valuation, is the analyst's negativity already baked into the share price?
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.