Salesforce Stock Is Tumbling Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Salesforce Inc (NYSE:CRM) shares are trading lower after the company reported first-quarter financial results and issued weak guidance for the second quarter. Despite an 11% year-over-year revenue increase, the company missed revenue estimates for the first time in over a decade. Analysts have lowered their price targets, contributing to a 16.7% drop in Salesforce's stock price.
May 30, 2024 | 1:22 pm
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Salesforce reported Q1 revenue of $9.13 billion, missing estimates and leading to a 16.7% drop in stock price. The company issued weak Q2 guidance, and multiple analysts lowered their price targets.
Salesforce's Q1 revenue miss and weak Q2 guidance have led to a significant drop in stock price. The company's first revenue miss in over a decade and lowered price targets from multiple analysts indicate a negative short-term outlook.
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IMPORTANCE 90
RELEVANCE 100