Bullish Comments from Pacific Crest Not Helping Shares of Salesforce.com

Shares of Salesforce.com

are down 4 percent to $55.83 in the face of some bullish comments from Pacific Crest. Analyst Brendan Barnicle sees 30+ percent growth annually under President Keith Block, who gave a presentation at Pacific Crest's Future of IT Tech Investor Forum on Wednesday. The presentation made the analyst more confident in the company going forward. Salesforce is making strides by adding vertical expertise to sales force and expanding the company's distribution channel, said the analyst. Salesforce is starting to replace SAP and Oracle for professionals, Barnicle said.