NEW YORK (TheStreet) -- Salesforce.com (CRM) shares are up 4.1% to $59.34 in trading on Thursday after the enterprise cloud computing solutions provider's rival, Oracle (ORCL) , experienced sharp gains after reporting better than expected second quarter earnings after yesterday's the closing bell.
Oracle shares are up 10% today after the company reported second quarter income of 69 cents per diluted share that beat analysts' expectations by one cent. The earnings beat was a result, in part, of the company's continuing shift into cloud computing services.
Oracle was ranked second in market share last year among software manufacturer's, trailing only Microsoft (MSFT) . Salesforce.com is the world's leading customer relationship management software provider and yesterday the company announced the launch of a new centralized, universal file-sharing solution product called Salesforce Files Connect.
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TheStreet Ratings team rates SALESFORCE.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SALESFORCE.COM INC (CRM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and generally higher debt management risk."