The California-based software-as-a-service company, Salesforce.com, Inc. (CRM), is trading lower on Wednesday after the UBS analysts downgraded the stock to "neutral".
Karl Keirstead, an analyst with UBS, decided to change the status of the stock to Neutral from Buy. The revised target price has also been dropped to $265 per share from $315. The analyst believes that there is a "more modest growth rate upside" in 2022. Keirstead also believes that the stock's valuation is "reasonable but not compelling".
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com