Connect with us

Hi, what are you looking for?

Jewish Business News

Money

Salesforce’s Marc Benioff Trims Position as Cloud Software Plays Get More Modest Valuations

Salesforce Marc Banioff 630x420

Marc Benioff, CEO of Salesforce.com, has sold some shares in his own company, 12, 500 at an average price of $58 as reported by Lulegacy. Salesforce has received upgrades from Pivotal Research, Mizuho and Piper Jaffray, which had an Overweight rating on the stock. Salesforce beat earnings estimates in its latest quarterly report by a penny and narrowly beat revenue estimates. However, its revenues were down over last year.

While Salesforce is still a stock backed by Wall Street, the software as a service sector, a place where Salesforce was a pioneer, has cooled off over last year. There was concern in the spring that the sector was overvalued with the plethora of software as a service IPOs. Box is expected to have its IPO next week, and it delayed its IPO after the tumble of companies in the sector last spring. The company sells file storage and collaboration tools and has raised $550 million. Box is making its IPO at a 40% lower valuation than what was planned last spring. The company has trimmed down expenses and is set for an IPO at a more modest valuation.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement
cialis cialis satış