On August 13, Salesforce.com rose 3.56% in regular trading, trading around $200.38/share, with turnover of approximately $1.418 billion.

On the news front, JPMorgan initiated coverage of Salesforce.com with an Overweight rating and a $250 target price, well above the current share price. On the same day, Monness Crespi Hardt raised its target price from $200 to $222 while maintaining a Buy rating, and UBS lifted its target to $210. According to FactSet, the stock carries an average analyst rating of Overweight with a mean target price of $238.14.

The concentrated bullish signals from multiple institutions effectively reversed recent negative sentiment. The stock had previously been pressured by a Morgan Stanley downgrade, the resignation of President Srini Tallapragada on August 6, and a disclosure of 74 layoffs at San Francisco headquarters on August 8. The next earnings report is scheduled to be released after market close on August 26.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)