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SalesForce's Future Looks Bright
By Chris Crum
Staff Writer
Article Date: 2005-09-06
SalesForce stock jumped $1 a share today after an SG Cowen analyst commented that he expects the company's shares to beat the rest of the market by 40% over the next year.
"We expect ongoing traction in the midmarket, amplified by significant momentum at the high-end of the market, to enable Salesforce to exceed the 400,000 [subscribers] level this fiscal year," said SG Cowen's Peter Goldmacher.
Another thing that can't hurt SalesForce's reputation is the fact that they just added leading HMO Kaiser Permanente to their customer database of 16,900.
"We are proud to work with Kaiser Permanente," said Marc Benioff, chairman and CEO of salesforce.com. "For nearly 60 years, the name Kaiser Permanente has stood for excellence in health care services. Salesforce.com is delighted to contribute to their ongoing success."
SalesForce shares jumped 5.2% ending up at $20.37 today according to MarketWatch. They have ranged between $12.96 and $25.15 over the last year.
About the Author:
Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.
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