Baird analyst Rob Oliver downgraded Salesforce to Neutral from Outperform with a price target of $150, down from $200. The macro environment remains challenged and recent executive departures are a concern, Oliver tells investors in a research note. He believes the combination of macro headwinds and seat-based software pressure could pressure Salesforce’s revenue growth near term. In addition, the increase in the company’s executive turnover is a surprise and could portend execution risk, says the analyst.
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