Salesforce downgraded to Neutral from Overweight at Atlantic Equities - InvestingChannel

Salesforce downgraded to Neutral from Overweight at Atlantic Equities

Atlantic Equities analyst Peter Sazel downgraded Salesforce to Neutral from Overweight with a price target of $140, down from $200. The analyst cites execution concerns, the company’s C-suite management “exodus” and risk of slower than expected revenue growth for the downgrade. Recent departures could start hurting Salesforce’s ability to win new deals going forward, Sazel tells investors in a research note. In addition, the analyst believes increased risk of a revenue slowdown is also reflected in the company’s decision not to provide fiscal 2024 revenue or EBIT margin guidance.

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