salesforce.com (CRM): Billings Deceleration Forces A PT Cut - Mizuho
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Mizuho Securities analyst, Abhey Lamba, reiterated his Buy rating on shares of salesforce.com (NYSE: CRM) but cut his price target to $85.00 (from $100.00) after Salesforce.com reported mixed F2Q results.
The company beat on revenue and EPS, while billings showed meaningful deceleration on deal slippages. The analyst stated that "F3Q17 guidance, on implied billings, did not inspire confidence either. While secular trends remain in its favor, the quarter's performance combined with M&A commentary could attract scrutiny and create a pause among investors".
Shares of salesforce.com closed at $79.42 yesterday.
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