CRM - Down 30% Is Salesforce a Buy on the Dip?
2024-06-01 05:26:00 ET
Shares of Salesforce (NYSE: CRM) dropped about 18% when the market opened on Thursday, May 30. At recent prices, the stock is about 30% below the peak it set earlier this year.
The recent stock drop is a response to a disappointing first-quarter earnings report. While the company beat earnings expectations for the first three months of the year, management's growth rate prediction was significantly slower than Wall Street analysts expected.
Is Wall Street and the stock market overreacting to a relatively minor growth deceleration? Here's a closer look at the customer relationship management software provider to see if it could be a smart stock to buy on the dip.
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Down 30%, Is Salesforce a Buy on the Dip?