UBS Raises salesforce.com (CRM) PT to $200
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Price: $46.79 +1.39%
Rating Summary:
31 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
31 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CRM Now!
UBS boosted its price target on Buy-rated salesforce.com (NYSE: CRM) from $180 to $200 ahead of Q4 results.
The firm comments, "We believe CRM finished FY13 (Jan.) on a solid note despite buffeting winds of Hurricane Sandy, U.S. fiscal cliff, and continued global macro uncertainty. As we wrote in our 2013 Soft ware Playbook (1/7/13), we see SaaS becoming the default choice of enterprise buyers for most applications. As a by-product, we expect ELAs to become more common and believe CRM signed a large volume of multi-product deals in FQ4. CRM remains 1 of our favourite large cap growth ideas."
The firm raised FQ4 rev to/from $835M/830M – above guide $825-830M; Raise FY14 rev to/from $3.85Bn/3.83Bn (guide 3.80-3.85), but lower op mgn expansion to/from 100bp/150bp, for EPS $1.91/2.00 (St 1.95)
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 $172.76 yesterday, with a 52 week range of $120.18-$178.91.
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The firm comments, "We believe CRM finished FY13 (Jan.) on a solid note despite buffeting winds of Hurricane Sandy, U.S. fiscal cliff, and continued global macro uncertainty. As we wrote in our 2013 Soft ware Playbook (1/7/13), we see SaaS becoming the default choice of enterprise buyers for most applications. As a by-product, we expect ELAs to become more common and believe CRM signed a large volume of multi-product deals in FQ4. CRM remains 1 of our favourite large cap growth ideas."
The firm raised FQ4 rev to/from $835M/830M – above guide $825-830M; Raise FY14 rev to/from $3.85Bn/3.83Bn (guide 3.80-3.85), but lower op mgn expansion to/from 100bp/150bp, for EPS $1.91/2.00 (St 1.95)
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 $172.76 yesterday, with a 52 week range of $120.18-$178.91.
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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