This hasn't been the case lately, and on Friday a price target cut from a prominent investment bank pushed the customer relationship management (CRM) giant's stock down by nearly 2%. The price target cutter was Deutsche Bank analyst Brad Zelnick, who now feels Salesforce.com stock is worth $300 per share. In a new research note, Zelnick wrote that the growth prospects for the software industry are still good. Read More...
Motley Fool
Why Snowflake Stock Fell on Friday
Shares of Snowflake (NYSE: SNOW) slumped on Friday, closing down 4.2% for the day, after Deutsche Bank (NYSE: DB) cut its price target on the cloud-based data storage and analytics service from $400 to $375. Deutsche Bank’s call was made as one part of a wide-ranging series of reductions in software stocks’ price targets (but no actual downgrades). In addition to Snowflake, the banker cut its valuations on about a dozen different tech stocks today, including names such as Palantir Technologies, Salesforce, and Oracle.
Add Comment