|Bid||119.15 x 100|
|Ask||124.16 x 100|
|Day's Range||120.20 - 124.02|
|52 Week Range||80.50 - 128.87|
|PE Ratio (TTM)||715.88|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Salesforce.com traded lower as Wall Street wondered whether the company's largest acquisition ever was the right move.
Stocks finished lower on Wednesday after the first interest rate decision from Federal Reserve Chairman Jerome Powell.
Salesforce.com, inc. (NYSE: CRM ) confirmed after Tuesday's market close it has agreed to acquire Mulesoft Inc (NYSE: MULE ) after a Reuters report suggested the two companies were in advanced merger talks. ...
Shares of cloud computing giant Salesforce (CRM) are down $1.68, or 1%, at $123.44, after it announced yesterday afternoon, after market close, it will buy cloud startup MuleSoft (MULE) for $6.5 billion in cash and stock. The two words coming up a lot, together, are “strategic” and “expensive." The deal will be immediately dilutive to Salesforce, as Mulesoft has been projected by the Street to lose money through 2020. Stifel Nicolaus’s Tom Roderick, reiterating a Buy rating on Salesforce stock, and a $142 price target, seems exuberant about the prospect for lots more pricey cloud software M&A, as he explains the logic of over-paying for an asset: That noise you just heard was the proverbial valuation ceiling for public SaaS companies shattering into a million pieces.
The CRM market leader's largest acquisition to date marks a big year for M&A as the Trump tax cuts free up billions for the largest tech corporations.
Here are some things going on today in your world of tech: Early drop on DropBox It’s not even trading yet, but as so often happens, the shares of DropBox (DBX) have got some coverage in advance of the IPO this week. Rishi Jaluria with DA Davidson initiates the stock with a Buy rating, and a $22 price target, above the announced pricing range of $18 to $20. Problems continue for Facebook (FB) over the revelation that consulting firm Cambridge Analytica had unauthorized access to user data, what has become “Facebook’s darkest hour,” as my colleague Jon Swartz terms it.
Salesforce (CRM) set to buy integration software maker, MuleSoft, for $6.5 billion, marking the company's third acquisition this year and biggest ever in its history.
The "Squawk on the Street" team talks about Salesforce's biggest acquisition to date, buying software company Mulesoft in a deal worth $44.89 per share in cash and stock.