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Salesforce.com Inc (CRM) [hlAlert]

Rating:
Hold CRM
down 36.18 %

Salesforce.com Inc (CRM) downgraded to Hold with price target $37 by Citigroup

Posted on: Friday,  May 22, 2009  10:25 AM ET by Citigroup

Citigroup rated Hold Salesforce.com Inc (NYSE: CRM) on 05/22/2009. Previously Citigroup rated Buy Salesforce.com Inc (NYSE: CRM) on 08/26/2008., when
the stock price was $14.33. Since then, Salesforce.com Inc has lost 36.18% as of 05/22/2009's recent price of $9.15.
If you would have followed the previous Citigroup's recommendation on CRM, you would have lost 36.18% of your investment in 269 days.

Salesforce.com, inc. is a provider of software on demand. The Company provides customer relationship management (CRM) service to businesses of all sizes and industries worldwide. The Company also provides a technology platform for customers and developers to build and run business applications. Approximately 55,400 customers worldwide use salesforce.com to manage their customer, sales and operational data. The Company designed and developed its offering to be an easy-to-use and intuitive solution that can be deployed rapidly, can be customized easily and can be integrated with other software applications. The Company deliver its service through a standard Web browser. Customers who use its enterprise cloud computing CRM service and platform are able to avoid many of the expenses and complexities of traditional enterprise software development and implementations.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/22/2009 10:25 AM Hold
None
9.15 9.25
as of 12/31/2009
1 Week   
1 Month   
3 Months   
1 YTD up  14.27 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/26/2008 8:25 AM Buy
None
14.33 17.50
7/22/2008 8:25 AM Hold
None
16.73 20.00

(*) Stock Price at the time of the recommendation.
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