Erste Group Downgrades salesforce.com (CRM) to Hold

Erste Group analyst Hans Engel downgraded salesforce.com (NYSE: CRM) from Buy to Hold.

The analyst comments "Thanks to its leading position in the areas of customer service, marketing automation and, in particular, data analysis using AI, Salesforce is in a position to continuously increase revenue and the operating margin. However, revenue and net profit growth in the current financial year will be lower than in the previous year. As sales growth is also lower than that of competitors, the share's P/E ratio is lower than the sector average."

For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.

Shares of salesforce.com closed at $263.17 yesterday.

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