Citi analyst Tyler Radke opened a "30-day negative catalyst watch" on shares of Salesforce. The shares are up 27% year-to-date on positive headlines from cost cuts and activist involvement, "potentially leaving conditions ripe" for a near-term pullback as margin upside may be priced in and growth metrics could disappoint, the analyst tells investors in a research note. The firm keeps a Neutral rating on the shares with a $182 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CRM:
- Salesforce Drops on Slowing Demand Concerns from Analyst
- Salesforce Stock (NYSE:CRM): Activist Investor Involvement Could Spark Turnaround
- Microsoft announces shift to ‘comprehensive SaaS security solution’
- Salesforce price target raised to $200 from $175 at Evercore ISI
- Salesforce price target raised to $195 from $180 at Barclays