Canaccord lowered the firm’s price target on Salesforce (CRM) to $300 from $350 and keeps a Buy rating on the shares. The firm said they reported steady, but not outstanding FQ2 results as Management acknowledged that much of the revenue upside in the quarter was timing driven, which means upfront revenue recognition on licensed products (MuleSoft/Tableau) and professional services. Overall, the quarter felt fine, not great, and not much is changing with respect to estimates.
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