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Salesforce Stock Extends Earnings-Fueled Decline as Analysts Lower Price Targets [Video]

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Marketing Platforms and CRM

Salesforce (CRM) shares extended their earnings-fueled decline in intraday trading Thursday after the customer relationship management (CRM) company reported first-quarter sales that missed estimates and offered weaker-than-expected guidance for the second quarter. Analysts lowered their price targets for Salesforce stock following the lackluster earnings report, though several maintained “buy” ratings, noting Salesforce could benefit from enterprise customers integrating artificial intelligence (AI).

Salesforce shares were down about 21% at $214.27 as of 3 p.m. ET Thursday, contributing to the stock’s more than 18% fall since the start of 2024.

Analysts at Bank of America, Jefferies, and CFRA all lowered their price targets for Salesforce stock, citing concerns about slowing growth amid a challenging macro environment.

Bank of America analysts dropped their price target to $288 from $360, pointing to a “tough demand environment” for Salesforce’s results.

CFRA analysts set their price objective at $300, lowering it from $330, saying that the second quarter guidance “implies …

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