Salesforce.com Tapping Into The Business Intelligence Market
- A few days ago, Salesforce.com announced the launch of the "Wave" that is set to target the Business Intelligence market.
- The Business Intelligence market has registered stable growth and was up nearly 8% in 2013, worth about $14.4 billion up until last year.
- Wave faces some challenges: The software is very simple and given that companies are hiring specialists to conduct data analysis, Wave might not be able to tap into the market.
- Salesforce posted a strong growth in its revenues during Q2: the company has raised revenue guidance for the full year and growth in revenue is likely to continue.
- CRM holds a 52-week bearish range of $48.18 and a bullish range of $67. The year-end estimate for the stock price is a bullish $69.28, indicating that prices might rise.