(CRM) With Shares Trading down at $98.44 Salesforce Launches New AppExchange – A…


Salesforce.com Inc (NYSE:CRM):

Salesforce Launches New AppExchange – A Faster and Smarter Way to Tap into the Power of the World’s Leading Enterprise Cloud Ecosystem.

The company is so far trading down from yesterday’s close of 98.9.

Salesforce.com, inc., incorporated February 3, 1999, is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Business’s service offerings are configured and integrated with other platforms and enterprise applications. The Company delivers its service offerings via Internet browsers and on mobile devices. Its Customer Success Platform is a portfolio of service offerings providing sales force automation, customer service and support, marketing automation, digital commerce, community management, analytics, application development, IoT integration, collaborative productivity tools and its professional cloud services..

It is trading at $98.44 a tad higher than $95.67, the 50 day moving average and which is just a bit higher than the 200 day moving average of $90.50. The 50 day moving average was up by +2.90% and the 200 day average was up $7.94.

In the latest earnings report the EPS was $-0.11 and is expected to be $1.32 for the current year with 718,700,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.34 and the next full year EPS is projected to be $1.70.

Short traders are more bullish on Salesforce.com Inc of late considering the change in short interest. The company realized a fall in short interest from September 15, 2017 to September 29, 2017 of -11.84%. Short shares decreased 2,218,674 over that period. Days to cover decreased 0.0 to 4.0 and the percentage of shorted shares was 0.02% on September 29.

Several brokerage analysts have issued ratings on the stock of late. August 23 investment analysts at Citigroup kept the company rating at “Outperform” and raised the price expectation from $89.00 to $115.00. On August 23 Credit Suisse maintained a company rating of “Buy” and raised the price target to $105.00 from $89.00.

August 23 investment analysts at Deutsche Bank left the stock rating at “Buy” but raised the price expectation to $110.00 from $89.00. August 23 investment analysts at Canaccord Genuity maintained a stock rating of “Buy” but raised the price target from $89.00 to $110.00.

August 23 investment analysts at Barclays made no change to the stock rating of “Buy” and moved up the price target to $110.00 from $89.00. On August 23 Jefferies left the company rating at “Hold” but moved down the price target to $84.00 from $89.00.