Jefferies Reiterates a 'Buy' on salesforce.com (CRM); Cloudforce Key Take Aways
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Price: $190.97 -2.67%
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Jefferies reiterates a 'Buy' on salesforce.com (NYSE: CRM) price target of $156.00.
Jefferies analyst says, "We attended Cloudforce in NYC yesterday. It is clear that the company continues to build momentum, with registered attendees approx 2X the March Cloudforce event. Aside from the launch of a few products, little new information came from the event. Mgmt's tone and commentary were consistent with the 11/17 EPS call. Our thoughts on the stock are unchanged and we remain optimistic on CRM's long-term opportunity."
"Other Points: 1) New product launch - Radian6 Social Marketing Cloud; 2) Management sounded confident about being able to achieve F4Q12 and FY13 financial targets given expanded distribution capacity; 3) Customers are showing interest in CRM’s social ELAs since, for a set cost, users
have access to all of CRM’s solutions; and 4) CRM believes it has a strong competitive position vs. key competitors including SAP (NYSE: SAP (Hold), Oracle (Nasdaq: ORCL) (Buy), Microsoft (Nasdaq: MSFT) (NotCovered), and RightNow (Nasdaq: RNOW) (Hold)."
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 $118.42 yesterday.
Jefferies analyst says, "We attended Cloudforce in NYC yesterday. It is clear that the company continues to build momentum, with registered attendees approx 2X the March Cloudforce event. Aside from the launch of a few products, little new information came from the event. Mgmt's tone and commentary were consistent with the 11/17 EPS call. Our thoughts on the stock are unchanged and we remain optimistic on CRM's long-term opportunity."
"Other Points: 1) New product launch - Radian6 Social Marketing Cloud; 2) Management sounded confident about being able to achieve F4Q12 and FY13 financial targets given expanded distribution capacity; 3) Customers are showing interest in CRM’s social ELAs since, for a set cost, users
have access to all of CRM’s solutions; and 4) CRM believes it has a strong competitive position vs. key competitors including SAP (NYSE: SAP (Hold), Oracle (Nasdaq: ORCL) (Buy), Microsoft (Nasdaq: MSFT) (NotCovered), and RightNow (Nasdaq: RNOW) (Hold)."
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 $118.42 yesterday.
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