0747 ET - Salesforce is neglecting its core business in an effort to pursue a premature AI opportunity, changing the nature of the company enough for us to downgrade it, say D.A. Davidson's Gil Luria and Clark Wright in a research note. The business-software provider focus on Agentforce does make strategic sense based on the transformative potential of AI, but betting the whole company on this effort may be at the expense of the other 98% of the company's business, say the analysts. "We expect the catalyst for underperformance will be further deceleration in the organic growth of the non Data/AI clouds," say the analysts, who downgrade the company to underperform. Shares are off 1.8% in pre-market trading. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
April 21, 2025 07:47 ET (11:47 GMT)
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