salesforce.com (CRM): Krux Acquisition Begins To Close Gap With Adobe - Cowen
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Cowen analyst, Derrick Wood, reiterated his Outperform rating on shares of salesforce.com (NYSE: CRM) as the company's annual conference, Dreamforce, kicks off. CRM announced a small platform acquisition, Krux, to bolster its Marketing Cloud offering. Krux is a leading Data Management Platform vendor with a strong technology and impressive customer list that we think will help close the functionality gap with ADBE and ORCL and meet growing demands for Big Data with marketers.
Founded in 2010 and headquartered in San Francisco, Krux is a Data Management Platform (DMP) that provides advanced segmentation and audience management functionality for ad-tech buyers and marketers. It was built on Big Data infrastructure including Hadoop, Spark and Kafka. Its Intelligent Marketing Hub product collects data from multiple sources and helps media companies, ad-agencies and marketers to drive smarter interactions and deeper engagement with consumers.
No change to the price target of $100.
Shares of salesforce.com closed at $70.52 yesterday.
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