IBM has announced that it will acquire Salesforce.com consulting firm Bluewolf Group to extend its analytics and industry consulting capabilities.
"I'm so proud of [Bluewolf CEO] Eric, who built Bluewolf from a startup into a leader in Salesforce services," Salesforce.com CEO Marc Benioff said in a statement. "The powerful combination of our strategic partners, IBM and Bluewolf, will help clients transform and demonstrate the growing client demand for our Customer Success Platform."
Salesforce.com is a San Francisco-based provider of enterprise cloud computing solutions that include apps and platform services, as well as professional services.
The chart of salesforce.com has certainly become a powerhouse of late. Wednesday's action was quite impressive, with a strong move over resistance on strong turnover.
The entire month of March has this stock in overbought territory. The triangle was broken decisively to the upside, and with its sights on the old highs (circa $82), only a market correction would stop it (or slow it down).
Above the moving averages, with the moving average convergence divergence (MACD) about to cross for a renewed buy signal and one more up day for a "fat tail" condition, are quite bullish signs for Salesforce.com.
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Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Salesforce.com's strengths such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth are countered by weaknesses such as the company's disappointing return on equity.
You can view the full analysis from the report here: CRM
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.