Needham & Company Maintains a 'Hold' on salesforce.com (CRM); Cracking the Enterprise Code

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

Needham analyst says, "We had the opportunity to catch up with a large Enterprise customer (with 17K employees) to get a better perspective on enterprise interest in salesforce’s broadening footprint and product vision.
Strengthening enterprise commitment to SaaS and to salesforce, is a key driver of sustainable high growth rates even in the face of heightening macro concerns, larger deal sizes (enterprise license agreements), improving customer retention rates and accelerated share gains ahead."

"Although we’re encouraged by strengthening enterprise commitment to SaaS and to salesforce, and are believers in the broader projected opportunity led by Force.com ServiceCloud, and Chatter, we would prefer to be buyers on any
pronounced weakness."

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 $123.46 yesterday.

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