Deutsche Bank Sees Momentum Building in salesforce.com (CRM)
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Deutsche Bank maintains its Buy rating and $80 price target on salesforce.com (NYSE: CRM).
The firm notes that salesforce.com's "Tour de Force Roadshow", "a marketing blitz which stops at over 20 cities worldwide", kicks off in Atlanta today.
Deutsche believes several data points are suggesting increased momentum in shares of salesforce.com -- possibly foreshadowing events to come. Strong customer feedback is suggesting that its platform is becoming more and more adopted.
Specifically, the firm points out that salesforce.com's programming language, Apex, now has 1.6 million lines of code, which is up from 1.1 million in February. Also, salesforce.com has seen its unique customer interfaces rise from 5,800 in February to 10,500 last month. Lastly, application installations at the Company have risen from about 42,000 several months ago to 65,000 in March.
salesforce.com, inc. provides on-demand customer relationship management (CRM) services to businesses and industries worldwide. [BCS]
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