Monness analyst Brian White has maintained their neutral stance on CRM stock, giving a Hold rating yesterday.
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Brian White has given his Hold rating due to a combination of factors influencing Salesforce’s current market position. Despite Salesforce’s recent advancements in AI innovations, expanded partnerships, and flexible pricing options, the company’s growth remains modest and the competitive landscape is challenging. The macroeconomic environment also presents uncertainties, which adds to the cautious outlook.
Salesforce’s introduction of Agentforce 360 and its strategic partnership with OpenAI demonstrate its potential to capitalize on the generative AI trend. However, the transition in software and the time required for turnarounds suggest that immediate growth prospects might be limited. Furthermore, while Salesforce has set ambitious financial targets for the future, including significant revenue growth and improved operating margins, these goals are yet to be realized, warranting a Hold rating at this time.
In another report released yesterday, Guggenheim also maintained a Hold rating on the stock with a $0.00 price target.