salesforce.com (CRM): Large Deal Execution Drives Strong Bounce Back - Cowen
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Cowen analyst, Derrick Wood reiterated his Outperform rating on shares of salesforce.com (NYSE: CRM) after 3Q results marked a nice comeback from last quarter, most notably driven by execution in closing large enterprise deals. Management indicated that it was able to take corrective actions in the Americas, which helped close slipped deals from last quarter.
The analyst stated "confidence in the Q4 pipeline seems high and it feels like execution is back on track. Its product breadth, high-growth end-markets, and increasing enterprise penetration position for continued 20%+ growth".
No change to the price target of $95.
Shares of salesforce.com closed at $75.19 yesterday.
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