salesforce.com (CRM) Sees Share Gains in Middleware - Oppenheimer
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Price: $46.79 +1.39%
Rating Summary:
31 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
31 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CRM Now!
Oppenheimer boosted its price target on Outperform-rated salesforce.com (NYSE: CRM) from $180 to $200 saying checks reveal CRM as a middleware share gainer.
"Recent customer due diligence sessions indicate a trend toward using the force.com platform as a data integration solution is escalating, which carries positive implications for CRM's growth, TAM, and ability to sustain its current large deal momentum," analyst Brian Schwartz states. "This feedback reinforces other indications from larger system integrators that salesforce.com's adoption is happening deeper in its customer's operations."
Schwartz bottom lines it: "As large companies go through the process of re-engineering their IT systems architecture toward cloud services, we expect demand for salesforce.com as a middleware-as-a-service solution to surge. This suggests an attractive yet nascent up-sell/cross sell opportunity for the platform, as a data integration solution exists and should lead to further share gains, in our view."
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $174.69 yesterday, with a 52 week range of $114.52-$178.91.
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"Recent customer due diligence sessions indicate a trend toward using the force.com platform as a data integration solution is escalating, which carries positive implications for CRM's growth, TAM, and ability to sustain its current large deal momentum," analyst Brian Schwartz states. "This feedback reinforces other indications from larger system integrators that salesforce.com's adoption is happening deeper in its customer's operations."
Schwartz bottom lines it: "As large companies go through the process of re-engineering their IT systems architecture toward cloud services, we expect demand for salesforce.com as a middleware-as-a-service solution to surge. This suggests an attractive yet nascent up-sell/cross sell opportunity for the platform, as a data integration solution exists and should lead to further share gains, in our view."
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $174.69 yesterday, with a 52 week range of $114.52-$178.91.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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