Needham & Company Maintains Buy Rating on salesforce.com (CRM) AFter Rypple Walk Thru

Needham & Company reiterated their Buy rating and $160 price target on salesforce.com (NYSE: CRM) after walking thru a demo how Rypple is integrated into salesforce's core offering.

"Our biggest takeaway was not that salesforce is well positioned in next-generation Talent Management, but instead was that salesforce now has an attractive product vehicle to carry Chatter across the enterprise (as opposed to just to sales and service seats)," the analyst notes. "This is important, in our view, because getting Chatter seeded across the enterprise should position salesforce well for some compelling and strategic CIO discussions around broader Force.com and Social Enterprise deployments," they continued.

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 $157.18 yesterday.

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