Needham & Company Maintains a 'Hold' on salesforce.com (CRM); Life is But a Dreamforce; Expect High Energy and Positivism

Needham & Company maintains a 'Hold' on salesforce.com (NYSE: CRM).

Needham analyst says, "We believe that salesforce’s upcoming user conference, Dreamforce 2011 hosted in San Francisco Aug 30-Sep 2, could represent a source of investor positivism and a lever for pipeline expansion and accelerated sales cycles through end of fiscal year. This year’s Dreamforce is several months earlier than last years (Dec 6-9 ), which we believe could benefit FY2H12 y/y growth metrics in stark contrast to rising nvestor macro concerns. We had the opportunity to meet wi h several top SI partners to get a perspective n upcoming Dreamforce and on recent trends. Activity levels have been strong, which bodes well for the tone of the upcoming Q2 earnings call (this Thursday post close). Trends include rising SaaS maturity, larger enterprise deals (including more enterprise license agreements, or ELAs), product cycle momentum (ServiceCloud and Force.com), and weakening competition from Oracle (Nasdaq: ORCL)."

For more ratings news on salesforce.com click here and for the rating history of salesforce.com click here.

Shares of salesforce.com closed at $137.37 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c