Crowdstrike (CRWD) & Salesforce (CRM): Growth Trends Are Pressured

Morgan Stanley downgrades Crowdstrike (CRWD) ahead of earnings. The stock was downgraded to equal weight and its price target was cut to $167 from $178. The analyst noted that another cut to the consensus ARR estimates seems likely and estimated for 2H23 and FY24 rebound “appear high.” Renita Young discusses this along with Salesforce (CRM). Citigroup cuts CRM’s price target ahead of earnings. The analyst notes that growth trends are pressured heading into 4Q and expectations on margin expansion “have largely played out.”. CRM’s price target was lowered to $220 from $230 and Citi keeps its neutral rating. Tune in to find out more about the stock market today.