Nomura Securities Maintains a 'Buy' on salesforce.com (CRM); Highlights from Cloudforce Event
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Price: $196.14 +2.71%
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Nomura Securities maintains a 'Buy' on salesforce.com (NYSE: CRM) price target of $155.00.
Nomura analyst, Rick Sherlund, said, "Management gave some greater clarity on the disappointing Q312 billings, indicating there was an unusual change in the “billing frequency and billing ramp,” which reduced deferred revenues in Q3 and negatively affected the Street’s computation of new billing activity. Management indicated there has been no actual decline in the underlying business activity and is contemplating greater disclosures going forward. We maintain our Buy rating and estimates. The shares are selling at 32x EV to unlevered cash flow. We think the company has robust growth potential as it begins to deliver a much broader product footprint and leadership in creating a new category around the social enterprise."
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.
Nomura analyst, Rick Sherlund, said, "Management gave some greater clarity on the disappointing Q312 billings, indicating there was an unusual change in the “billing frequency and billing ramp,” which reduced deferred revenues in Q3 and negatively affected the Street’s computation of new billing activity. Management indicated there has been no actual decline in the underlying business activity and is contemplating greater disclosures going forward. We maintain our Buy rating and estimates. The shares are selling at 32x EV to unlevered cash flow. We think the company has robust growth potential as it begins to deliver a much broader product footprint and leadership in creating a new category around the social enterprise."
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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