Salesforce.com Inc. has grabbed the attention from analysts, who continue to recommend the company stock, with many estimating share prices to go cross the $100 mark within the next 12 month.
Target earnings are said to be $0.75 per share for this time period.
These positive recommendations have resulted in the share value of the CRM maker increase, with an uplift of 0.52% or 0.45 points in the last trading session on Monday. A total of 2.59 million shares exchanged hands during the intra-day trade.
Compared to its average trading volume of 3.57 million shares.
The company is listed with a market capitalization of $61.98 billion, and the leading provider of SaaS solutions to businesses now has an average gross revenue stream just shy of 29% since 2013. Over 92% of its revenue comes from corporate users of its cloud computing services.
Related technical support is also fast becoming a sticky revenue stream for the firm.
Salesforce has taken the lead in this area, on the back of recent acquisitions.
Aided by the takeovers of companies like SteelBrick in February 2016, MetaMind in April 2016, Demandware in July 2016, Quip in August 2016, and most recently Kruz Digital in November 2016, the company is now competing with the likes of Oracle, SAP, Microsoft, Adobe and IBM in this domain.
No wonder, then, that out of the brokerage recommendations, 26 rate Salesforce.com stock as a Strong Buy, 1 has rated it a Buy, 3 rate Hold, 0 rate Sell and 0 recommend a Strong Sell.