BTIG Reaffirms (CRM) at 'Buy' Following Q3 Report

November 18, 2016 12:51 PM EST
Get Alerts CRM Hot Sheet
Price: $75.64 +0.57%

Rating Summary:
    51 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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BTIG affirms (NYSE: CRM) a Buy with a price target of $100 following Q3 results reported Thursday night.

Analyst Joel Fishbein commented today, The company adeptly changed its selling motion in the U.S. over the past quarter to align with a market shift, and the bounce-back in their home market coincided nicely with positive results across all geographies. Billings came in well ahead of consensus (+19% y/y vs. Street +13%), deal metrics were strong, and the company announced a record number of high value seven-figure transactions. Overall, we see the innovation pipeline and recent acquisitions as augmenting the company’s long-term value proposition, and believe in Salesforce’s ability to drive shareholder value.

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