SAN FRANCISCO -- Software stocks were on the move Monday as analysts shifted ratings both north and south and raised target prices for a handful of developers.
Analysts attempted to sort out whether small growth companies or big-ticket defensive stocks were better suited to the tough environment.
Tibco(TIBX Quote) was hardest hit by a Goldman Sachs downgrade, while investors also punished Salesforce.com (CRM Quote) . That company started the week with both an upgrade and a downgrade.
On a day when the iShares S&P GSTI Software Index was down a penny to $49.11, Tibco, which develops business management software, was off 78 cents, or 10.2%, to $6.84 in morning trading. Salesforce, which delivers subscription-based software over the Web, was down $2.85, or 4.8%, to $56.01. ...
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