Salesforce Reaches Record Amid Surging Demand for Cloud
- Software maker's 2017 projections top analysts' estimates
- Shares climb to highest since 2004 initial public offering
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Salesforce.com Inc. shares rose to an all-time high after the maker of cloud-based business software forecast another strong year ahead.
Shares of the San Francisco-based company jumped 4.3 percent to $80.64 at the close in New York, their highest level since Salesforce’s 2004 initial public offering. The stock has gained 36 percent this year, compared with a 1.1 percent gain in the Standard & Poor’s 500 Index.