TD Cowen Cuts Salesforce.com (CRM) Price Target But Expects Q4 Bounce Back

Salesforce, Inc. (NYSE:CRM) is one of the best stocks to invest in, according to billionaire George Soros. On August 21, analysts at TD Cowen reiterated a ‘Buy’ rating on the stock but cut the price target to $335 from $375.

The price target cut comes amid growing concerns that Salesforce is facing weak revenue in enterprise checks. Consequently, the research firm expects the stock to remain range-bound until the fourth quarter.

Nevertheless, the company’s Data Cloud segment remains a bright spot as Agentforce; the company’s AI assistant continues to elicit strong interest. Similarly, TD Cowen expects the company to bounce back to robust growth in the fourth quarter, which is seasonally strong.

Salesforce, Inc. (NYSE:CRM) is a cloud-based software company that provides businesses with a suite of tools to manage customer relationships, improve sales, enhance marketing, and streamline customer service. It essentially helps companies to find more customers, close more deals, and keep those customers happy through a variety of integrated applications.

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Disclosure: None. This article is originally published at Insider Monkey.