Salesforce Stock Tumbled, But Many Analysts Maintain Long Term Optimism Despite Q1 Setback, Eye AI Growth
Portfolio Pulse from Anusuya Lahiri
Salesforce Inc (NYSE:CRM) shares fell after Q1 revenue missed expectations, leading multiple analysts to cut their price targets. Despite the setback, many analysts maintain a long-term optimistic outlook, citing potential growth in AI and other key areas.
May 30, 2024 | 7:06 pm
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Salesforce shares dropped 21.10% after Q1 revenue missed expectations. Analysts cut price targets but maintain long-term optimism, citing potential growth in AI and other key areas.
Salesforce's Q1 revenue missed expectations, leading to a significant drop in share price. Despite this, analysts maintain a positive long-term outlook due to potential growth in AI and other areas. The immediate impact is negative due to the revenue miss and lowered price targets.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Workday's lower guidance combined with Salesforce's results could create additional uncertainty in the SaaS industry, potentially moderating growth rates for the third straight year.
Workday's lower guidance, combined with Salesforce's disappointing Q1 results, could lead to increased uncertainty in the SaaS industry, potentially affecting growth rates. The immediate impact is negative due to the compounded uncertainty.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 30