Shares of Salesforce Inc. (NYSE:CRM – Get Free Report) dropped 2% during mid-day trading on Thursday. The stock traded as low as $220.08 and last traded at $222.6650. Approximately 8,106,787 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 13,116,208 shares. The stock had previously closed at $227.11.
Key Headlines Impacting Salesforce
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Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Salesforce is reportedly planning to acquire Cresta, a provider of AI voice-agent technology. The deal could extend Salesforce’s AI capabilities in customer service, though its financial and integration implications are not yet clear. Salesforce bets on AI voice agents with planned Cresta acquisition
- Positive Sentiment:Zacks upgraded Salesforce to Strong Buy, citing improving earnings prospects. Analysts’ average price target implies potential upside, although price targets are not reliable predictors by themselves. Salesforce Moves to Strong Buy
- Neutral Sentiment:A comparison with ServiceNow highlights investor uncertainty over whether agentic AI will translate into growth, despite both companies’ positioning in the market. Salesforce Vs. ServiceNow
- Negative Sentiment:S&P Global Ratings cut Salesforce’s credit rating to A from A+, citing rising acquisition-related debt and a $25 billion debt-financed buyback. The agency said pro forma net debt-to-EBITDA exceeded its prior downgrade threshold, raising concerns about capital allocation and financial flexibility. <a href="https://finance.yahoo.com/markets/stocks/articles/p-cuts-salesforce-rising-acquisition-204428858.html” rel=”nofollow noopener” target=”_blank”>S&P cuts Salesforce to A on rising acquisition debt and buybacks
Analyst Ratings Changes
CRM has been the subject of a number of research reports. Zacks Research upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Monness Crespi & Hardt raised their price target on Salesforce from $222.00 to $266.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Weiss Ratings upgraded Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Guggenheim lifted their price objective on Salesforce from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday, August 27th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $278.98.
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