(CRM): Time To Buy, Not Cry - Piper Jaffray

September 1, 2016 8:35 AM EDT
Get Alerts CRM Hot Sheet
Price: $75.06 --0%

Rating Summary:
    50 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Piper Jaffray analyst, Alex Zukin, reiterated his Overweight rating on shares of (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.

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $79.42 yesterday.

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