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17.05.2022 23:51:17

Why Salesforce.com Stock Got a Slap From the Market Today

Many stocks rose by healthy percentages on Tuesday. Customer relationship management (CRM) software giant Salesforce.com (NYSE: CRM), however, was not one of them. Investors were cool on the stock following an analyst's price target cut, and it closed the day marginally lower against the 2% rise of the S&P 500 index.The cutting party was Swiss banking conglomerate UBS, in the person of analyst Karl Keirstead. He now feels that Salesforce stock is fairly priced at $185 per share, well down from his previous target of $225.Image source: Getty Images.Continue reading
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