This Wednesday, Aug. 20, Salesforce.com (CRM), which vends a customer relations management tool as a Web-based application, is expected to report financial results for the July-ending second Quarter, after the bell. Two analysts take divergent approaches in their outlook for Salesforce in reports this morning.
If you are a believer in efficient markets, every now and then a hot tech stock comes along that pushes your conviction to its limits.
VMware was bought for $625 million by EMC in 2004, went public in 2007 and soon hit a market cap of $48 billion. It currently trades at about a quarter of that value.
Even the hottest stock can’t defy gravity indefinitely. Or can it?
Salesforce.com (CRM) shares are trading lower after Citigroup’s Brent Thill this morning cut his rating on the stock to Hold from Buy on a valuation basis.
Thill notes that he sees no cracks in the company’s fundamentals, and that the stock has held up well given the weakening economy and difficult equity market.
The Internet revolutionized the distribution of software–perhaps a bit too much. The Web brought a new, cheaper method for getting software into the hands of users, but in doing so may have killed one of the best models in Silicon Valley history.
Salesforce.com (CRM) is the thing you’ve been waiting for: a play on Web 3.0. At least, that’s the way Jefferies & Co.’s Ross MacMillan sees it. He raised his rating on the stock today to Buy from Hold, and upped his price target to $77 from $49. The move comes one day after the company reported better-than-expected results for its fiscal first quarter ended April.
MacMillan contends that the company is morphing from the leader in on-demand CRM software to “a major provider of cloud computer infrastructure.” (Which is to say, Web 3.0.)
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