Reaction: Was trading as high as $148.02 this morning. It quickly sold off to $140, but bounced from there. CRM opened at $145.54 on 2.5x average daily volume.
Next Targets to Upside and Downside: CRM has been trading in a huge range between the July 2011 Highs of $160 and traded as low as $98 in January of 2012.
Estimates and Guidance are increasing for Salesforce . Morgan Stanley predicts continued margin expansion. Salesforce mentioned in the conference call that it won 100(+) 7 figure deals during the quarter. Also, Nomura reiterated its “BUY” recommendation on CRM. Nomura expects CRM to exceed revenue and increase its guidance. CRM’s 50 day moving average is around $113.82 and 200 day moving average is $128.20. Salesforce mentioned in the conference call that it won 100+ (7 figure) deals during the quarter. Also, Nomura reiterated its “BUY” recommendation on CRM. Nomura expects CRM to exceed revenue and higher guidance.