salesforce.com (CRM): Time To Buy, Not Cry - Piper Jaffray
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Piper Jaffray analyst, Alex Zukin, reiterated his Overweight rating on shares of salesforce.com (NYSE: CRM) after Salesforce's 2Q17 results failed to live up to investor expectations with the company noting weakness in the U.S. as a driving factor.
The analyst believes investors should use periods of weakness to buy secular growth stories which he believe CRM continues to be. The analyst stated "we believe CRM sits at the nexus of a sea change in Enterprise Software where fundamentally the customer relationship becomes the product for end customers. With the stock trading at 5.6x CY17E revenue amidst an M&A backdrop where tier 1 assets have been acquired at 7.5x"
No change to the $100 price target.
Shares of salesforce.com closed at $79.42 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- Visa (V) PT Raised to $97 at UBS on Solid Q4
- Baxter (BAX) PT, Estimates Raised at Evercore ISI
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!