Salesforce Inc. is shaking up its leadership and its entire business more broadly, and that carries uncertainty for its stock, according to an analyst.
Salesforce Inc. is shaking up its leadership and its broader organization, and those changes carry uncertainty for its stock, according to an analyst.
Cowen & Co.’s Derrick Wood downgraded shares of Salesforce CRM to market perform from outperform Friday, warning of the potential for “elevated levels of disruption risk” due to a handful of executive exits as well as a plan to restructure the company. The turnover comes at a tough time for Salesforce and the broader software industry. Wood notes that the company’s fourth-quarter outlook calls for growth slowing to 13% on a constant-currency basis, which he said would be the lowest level on record for Salesforce.
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