Shares of software-as-a-service company Salesforce.com fell Thursday in morning trading after the company announced cautious guidance for the upcoming third quarter.
Shares were trading at $55.80 by midday, down from Wednesday's close of $65.30.
Looking ahead, the company said it expects revenue in the third quarter to be between $273 million and $274 million, slightly below analysts' expectations.
Thursday, Piper Jaffray downgraded the stock from "buy" to "neutral."
The stock slip came despite a strong second quarter. Salesforce announced revenue of $263.1 million for the second quarter ended July 31, up … Read more