Weather May Cloud Salesforce.com's (CRM) Quarter
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Price: $270.47 -2.07%
Rating Summary:
45 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
45 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Ahead of Salesforce.com’s (CRM) quarterly earnings report on November 20th, analysts at MKM Partners reiterated a Buy on the stock with a price target of $185.00.
"We look for solid 3Q results and outlook driven by broad-based momentum across the various cloud platforms, which we believe can sustain 25%-30% growth over next few years," said analyst Israel Hernandez.
Hernandez said the impact from hurricane should also be a key variable to watch.
"We believe Hurricane Sandy likely impacted close rates and new signings at the end of the quarter in the Northeast, especially in financials and government verticals. This could mute meaningful upside to our billings forecast, but could provide additional juice to seasonally stronger 4Q," said Hernandez.
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 $141.68 yesterday.
"We look for solid 3Q results and outlook driven by broad-based momentum across the various cloud platforms, which we believe can sustain 25%-30% growth over next few years," said analyst Israel Hernandez.
Hernandez said the impact from hurricane should also be a key variable to watch.
"We believe Hurricane Sandy likely impacted close rates and new signings at the end of the quarter in the Northeast, especially in financials and government verticals. This could mute meaningful upside to our billings forecast, but could provide additional juice to seasonally stronger 4Q," said Hernandez.
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 $141.68 yesterday.
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