Cowen Remains Bullish on salesforce.com (CRM) Following 2Q

Cowen reiterated an Outperform rating and $100.00 price target on salesforce.com (NYSE: CRM) following the company's 2Q earnings report.

Analyst Derrick Wood commented, "CRM called out end-of-qtr softness in the U.S. that seemingly weighed on hitting internal bookings targets. But mgmt expressed a high degree of confidence in 2H pipelines and we think the structural growth fundamentals are well intact. CRM has historically delivered a strong rebound after a miss; and coupled w/ upcoming catalysts around Dreamforce (early Oct), we recommend buying on the weakness."

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 $79.42 yesterday.

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