- Salesforce shares sank 16% before the bell on Thursday after its lowest quarterly revenue growth forecast on record raised fears that high interest rates and AI offerings from rivals were hampering demand at the cloud-based software firm.
"Weak bookings in Q1 further test investor patience as the GenAI innovation cycle has yet to inflect top-line results and now increasingly becomes a point of competitive concern," Morgan Stanley analysts said in a client note. At least ten brokerages lowered their price targets on the stock following the results. D.A. Davidson's PT of $230 was the lowest among 49 analysts covering the stock.
Source: News Formal (newsformal.com)
Quarterly Revenue High Interest Rates Software Demand
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