salesforce.com (CRM) Crumbles: Stock Falls by 5.9%
salesforce.com, inc. (CRM) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $70.41 to $74.04 in the past one-month time frame.
On Aug 20, salesforce.com reported a loss of $852,000 in its second quarter results of fiscal 2016.
The software company has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
CRM currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the same sector is Dassault Systemes SA (DASTY), holding a Zacks Rank #1 (Strong Buy).
Is CRM going up? Or down? Predict to see what others think: Up or Down
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SALESFORCE.COM (CRM): Free Stock Analysis Report
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