Salesforce.com Inc (CRM) has risen sharply, recording gains of 2.47% in the past 4 weeks. However, the stock has corrected -0.91% in the past 1 week, providing a good buying opportunity on dips. Salesforce.com Inc (CRM) : During the past 4 weeks, traders have been relatively bearish on Salesforce.com Inc (CRM), hence the stock is down -0.86% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.84% relative to the S&P 500.
The stock has recorded a 20-day Moving Average of 0.92% and the 50-Day Moving Average is 0.57%. salesforce.com, inc. is up 7.92% in the last 3-month period. Year-to-Date the stock performance stands at 4.34%.
Salesforce.com Inc (NYSE:CRM): On Fridays trading session , Opening price of the stock was $82.25 with an intraday high of $82.405. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $80.88. However, the stock managed to close at $81.8, a loss of 0.64% for the day. On the previous day, the stock had closed at $82.33. The total traded volume of the day was 2,996,289 shares.
Also, In the latest statement by the brokerage house, Morgan Stanley maintains its outlook on Salesforce.com Inc (NYSE:CRM). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm raises the price target from $94 per share to $110 per share. The rating by the firm was issued on July 25, 2016.
salesforce.com, inc. is a provider of enterprise cloud computing solutions that include apps and platform services, as well as professional services. The Company focuses on customer relationship management (CRM). The Company offers six core cloud services that include sales force automation, customer service and support, marketing automation, community management, analytics and a cloud platform for building custom applications. The Company offers consulting, deployment, training, implementation and integration services to its customers to facilitate the adoption of its cloud solutions. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices, on a subscription basis, primarily through its direct sales efforts and indirectly through partners.