Goldman Sachs Discusses salesforce.com (CRM) Buddy Media Deal
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Price: $37.65 -1.57%
Rating Summary:
30 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
30 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
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Goldman Sachs commented on salesforce.com (NYSE: CRM) following the deal to acquire Buddy Media.
The firm notes the acquisition expands the SFDC's suite of offerings into a large, adjacent market area.
The social CRM market is expected to reach $1 billion by year end, according to Gartner.
"Management expects Buddy Media to add $20-$25mn in revenues in 2HFY13 and noted that the high end of this range is slightly less than its 2011 sales. This suggests a more than doubling of Buddy Media revenues in 2012," the analyst notes.
The firm maintained their Buy rating and price target of $190.00
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $131.22 yesterday, with a 52 week range of $94.09-$164.75.
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The firm notes the acquisition expands the SFDC's suite of offerings into a large, adjacent market area.
The social CRM market is expected to reach $1 billion by year end, according to Gartner.
"Management expects Buddy Media to add $20-$25mn in revenues in 2HFY13 and noted that the high end of this range is slightly less than its 2011 sales. This suggests a more than doubling of Buddy Media revenues in 2012," the analyst notes.
The firm maintained their Buy rating and price target of $190.00
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $131.22 yesterday, with a 52 week range of $94.09-$164.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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