DA Davidson Downgrades salesforce.com (CRM) to Underperform

DA Davidson analyst Gil Luria downgraded salesforce.com (NYSE: CRM) from Neutral to Underperform, PT $200.00.

The analyst comments "We believe Salesforce is neglecting its core business in an effort to pursue a premature AI opportunity, changing the nature of the company enough for us to downgrade to UNDERPERFORM from Neutral, reduce our PT to $200, and remove it from our Best-of-Breed Bison list. We expect the catalyst for underperformance will be further deceleration in the organic growth of the non Data/AI clouds."

For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.

Shares of salesforce.com closed at $247.26 yesterday.

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