February 24, 2024
London, UK

Salesforce (CRM) Under Pressure as Butterfield Leaving


Stewart Butterfield, Slack co-founder, who joined the company through the Slack acquisition, is leaving Salesforce. His position as CEO of Slack will be covered by Lidiane Jones. Last week Bret Taylor co-CEO of Salesforce also stepped down.

Salesforce (CRM) on July 21 completed the $27.7 billion acquisition of Slack.

Earlier today Credit Suisse cut the Salesforce price target from $250 to $225 while keeping the Outperform rating. Citigroup reiterated CRM with a Neutral and also reduced the price target from $170 to $164.

Salesforce is trading 7.60% lower at $133.54, and the market capitalization stands at $144.56 billion. CRM stock has a 52-week trading range between $132.88 and $270.57.

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