Salesforce.com on Thursday reported a second-quarter loss of about 10 cents per share — but hey, who’s counting? Not investors, apparently, who drove up the price of the CRM giant’s stock 7.6 percent by market close Friday. Certainly not Wall Street analysts like Deutsche Bank, which promptly raised its target price for the company to $70.00 per share, pointing to a potential upside of 25.65 percent. The optimism largely has to do with Salesforce.com’s forecast for fiscal 2015, which exceeded analyst expectations.
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Salesforce Stock Climbs on Great Expectations
Posted by: Erika Morphy August 22, 2014 01:13 PMSalesforce.com on Thursday reported a second-quarter loss of about 10 cents per share — but hey, who’s counting? Not investors, apparently, who drove up the price of the CRM giant’s stock 7.6 percent by market close Friday. Certainly not Wall Street analysts like Deutsche Bank, which promptly raised its target price for the company to $70.00 per share, pointing to a potential upside of 25.65 percent. The optimism largely has to do with Salesforce.com’s forecast for fiscal 2015, which exceeded analyst expectations.