Monness analyst Brian White has maintained their neutral stance on CRM stock, giving a Hold rating today.
Brian White’s rating is based on a combination of factors that reflect Salesforce’s current market position and future outlook. Despite Salesforce’s strong position in the digital transformation space with its cloud and AI capabilities, the company is experiencing a slowdown in growth. The recent quarterly results showed revenue figures that fell short of expectations, indicating challenges in maintaining its previous growth momentum.
Additionally, while Salesforce has shown optimism about its AI initiatives and partnerships, the competitive landscape remains dynamic, and the macroeconomic environment is uncertain. These factors contribute to a cautious outlook, leading to a Hold rating as the company navigates through these challenges and transitions in its software offerings.
In another report released today, UBS also maintained a Hold rating on the stock with a $340.00 price target.
Based on the recent corporate insider activity of 327 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRM in relation to earlier this year.