Are We All Wrong About Salesforce.com?
By Benjamin Goldman:Since I have learned fundamental analysis and value investing, Salesforce.com (CRM) has been my go-to answer to the question, "Which stocks do you think are the most overvalued?" Although there are other stocks which enter that conversation, like Groupon (GRPN), all of my other sell picks in the technology sector have dropped off big over the past few months. Salesforce.com, on the other hand, has had some very bullish activity over the past few weeks. For those who are short, I will attempt to give my best advice on whether to keep holding on or to cover and accept losses.At the close of trading on April 12, Salesforce.com traded at $158.30, nearing its 52-week high of $160.12. Every time I have attempted to value the company based on earnings analysis or FCF, I've never reached a valuation higher than $50. Using GAAP earnings, Salesforce.com actually finished its last fiscalComplete Story »