U.S. Markets closed

Salesforce.com advances after Oppenheimer upgrades rating

Leading software-as-a-service provider Salesforce.com (CRM) is climbing after Oppenheimer issued a positive note on the sector this morning, and upgraded shares of Salesforce.com to Outperform from Market Perform. The most innovative companies in the sector should continue to grow quickly, predicted Oppenheimer. The firm said its favorite companies in the group have "disruptive technologies" that will enable them to gain market share. Oppenheimer added that large companies are likely considering buying some of the leading software-as-a-service vendors. In addition to Salesforce.com, Oppenheimer identified Concur (CNQR), Kenexa (KNXA), Constant Contact (CTCT), Demandware (DWRE), Carbonite (CARB), and Oracle (ORCL) as stocks it recommends buying in the group. In early trading, Salesforce.com rose $3.29, or 2.25%, to $149.50, while Constant Contact added 1.96% to $20.86.