UBS Reiterates Neutral Rating on salesforce.com (CRM) Post Investor Day

UBS analyst Karl Keirstead reiterated a Neutral rating and $260.00 price target on salesforce.com (NYSE: CRM).

The analyst commented, "We spent two days at Salesforce’s big Dreamforce event in SF, where we did customer checks as well as attend the Investor Day. In our view the Investor Day was a net positive, namely the guide for a 10%+ total revs CAGR through FY30 (from a base of 8% and reaching $60b+ in FY30 compared to our $56.6b estimate) and continued margin expansion into the high-30% range. Our view is tempered by the reality that it’ll take 12-18 months for growth to exceed 10% and even the margin ramp is skewed to the out years."

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 $236.58 yesterday.

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