Salesforce Inc. (CRM) in Harbor Capital Appreciation Fund Q2 2024

Revenue Growth Challenges Amidst Longer Sales Cycles

Apr 15, 2025

Summary

Experienced modestly disappointing revenue growth.
Longer sales cycles and a measured buying environment cited as challenges.
Risks include increased competition and margin pressures.
Detracted from the fund's performance with a -14.64% return.
Focus on AI initiatives may drive future growth and recovery.

Salesforce Inc. (CRM, Financial) was noted as a detractor in the Harbor Capital Appreciation Fund (Trades, Portfolio)'s 2nd-Quarter Commentary 2024 Q2. The company faced challenges with revenue growth due to longer sales cycles and a cautious buying environment.

"Salesforce shares also declined, following modestly disappointing revenue growth in its latest quarter, as it cited longer sales cycles, a 'measured buying environment,' and concerns that higher investments will lead to less operating margin leverage." — Jennison Associates, LLC, Harbor Capital Appreciation Fund (Trades, Portfolio), Q2 2024 Fund Letter

Read full letter at gurufocus Harbor Capital Appreciation Fund's 2nd-Quarter Commentary 2024 Q2 page.

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