Cowen Remains Bullish on (CRM) Following 2Q

September 1, 2016 8:10 AM EDT
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Price: $75.64 --0%

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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Cowen reiterated an Outperform rating and $100.00 price target on (NYSE: CRM) following the company's 2Q earnings report.

Analyst Derrick Wood commented, "CRM called out end-of-qtr softness in the U.S. that seemingly weighed on hitting internal bookings targets. But mgmt expressed a high degree of confidence in 2H pipelines and we think the structural growth fundamentals are well intact. CRM has historically delivered a strong rebound after a miss; and coupled w/ upcoming catalysts around Dreamforce (early Oct), we recommend buying on the weakness."

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Shares of closed at $79.42 yesterday.

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