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Salesforce.com stock gets upgrade

March 11, 2008

S&P Equity Research upgrades Salesforce (NYSE:CRM)

By Michael Cawston-Stewart

Previously set to a positive sell, S&P Equity Research the Standard and Poor’s own internal analysis group has upgraded Salesforce as the share price spiked today.  Earnings reports out from the company have been strong and a mild surprise to those who expected the CRM leader to make a good candidate for a short sell.

As Salesforce has charged ahead in the essentially barren market of low-cost, effective and most importantly online client management software (as well as other features blossoming from Salesforce’s open developer program) it has shown significant profitability in an area big players like Oracle or SAP have been reluctant to “waste time on.”

It has been posited that this would spell Salesforce’s downfall however continued success, increasing revenues, and a growing list of recognizable clients has led these S&P analysts to change their mind about Salesforce’s longevity and value as an investment.

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Written by Adam Killam · Filed Under Salesforce.com News 

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