Salesforce lower after analyst calls company his "best short idea"

|By:, SA News Editor

Arete Research's Adam Shepherd is reiterating a Sell and $24 PT on Salesforce (CRM -3.3%), while declaring the cloud CRM software giant his "best short idea."

Shepherd thinks Salesforce's core software growth is slowing, and that the company is relying on newly-acquired ExactTarget to hit estimates/guidance. He's also worried about Salesforce's aggressive spending and cash flow pressures.

Concerns about spending and operating leverage already led Salesforce to sell off last week following its FQ3 report.

A few other enterprise cloud software names are also selling off on a bad day for tech momentum plays.