We're cutting our price target on Salesforce after mixed earnings, soft guidance

We're cutting our price target on Salesforce after mixed earnings, soft guidance
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Signage on a Saleforce office building in San Francisco, California, U.S., on Tuesday, Feb. 23, 2021.

David Paul Morris | Bloomberg | Getty Images

Salesforce shares sank more than 16% Wednesday after reporting mixed earnings and revised guidance lower. The cloud software company is a high-quality stock in a rough neighborhood โ€” at least for the near term.