Salesforce.com Inc. (CRM): Today's Featured Technology Laggard

Mar 7, 2014 5:01 PM EST

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Salesforce.com ( CRM) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.3%. By the end of trading, Salesforce.com fell $2.40 (-3.8%) to $60.74 on heavy volume. Throughout the day, 11,217,489 shares of Salesforce.com exchanged hands as compared to its average daily volume of 5,281,800 shares. The stock ranged in price between $59.73-$63.36 after having opened the day at $63.20 as compared to the previous trading day's close of $63.14. Other companies within the Technology sector that declined today were: Novatel Wireless ( NVTL), down 25.6%, Pixelworks ( PXLW), down 23.9%, Alaska Communications Systems Group ( ALSK), down 16.5% and Analogic Corporation ( ALOG), down 15.8%.

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salesforce.com, inc. provides enterprise cloud computing solutions to various businesses and industries worldwide. Salesforce.com has a market cap of $38.4 billion and is part of the computer software & services industry. Shares are up 15.4% year to date as of the close of trading on Thursday. Currently there are 25 analysts that rate Salesforce.com a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Salesforce.com as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth and solid stock price performance. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.

You can view the full Salesforce.com Ratings Report.

On the positive front, Smith Micro Software ( SMSI), up 38.3%, Plug Power ( PLUG), up 30.0%, Glowpoint ( GLOW), up 19.4% and UBIC Inc ADR ( UBIC), up 18.8% , were all gainers within the technology sector with Rackspace Hosting ( RAX) being today's featured technology sector leader.

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For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).