Salesforce's stock drop is weighing on the dow. What's behind the pressure?
Salesforce's stock drop is weighing on the dow. What's behind the pressure?"
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One thing seems clear after Salesforce's earnings report: The company “firmly remains outside of the buy-side ‘circle of trust’ in software,” according to Mizuho desk-based analyst
Jordan Klein. While the company's earnings from Wednesday afternoon had no major issues, shares are down 6.3% in midday action Thursday as they head for their worst day in a year and
shave 106 points off the Dow. Salesforce's stock is the biggest Dow laggard on the day. Analysts don't seem sold on the company's growth trajectory going forward or on whether
subscription revenue growth can reaccelerate. Bernstein analyst Mark Moerdler thought investors would leave this report with concerns that “growth is not going to accelerate and the company
is increasing head count investments and M&A.”
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Salesforce's stock drop is weighing on the dow. What's behind the pressure?One thing seems clear after Salesforce's earnings report: The company “firmly remains outside of the buy-side ‘circ...
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