Needham & Company Maintains a 'Buy' on salesforce.com (CRM); Rypple Helps Build Salesforce’s Social Enterprise Wave

Needham & Company maintains a 'Buy' on salesforce.com (NYSE: CRM) price target of $125.00.

Needham analyst says, "CRM’s acquisition of the small but ultra-fast growing SaaS startup Rypple is a good one in our view. While many on Wall Street may not yet be intimately familiar with Rypple’s social enterprise value proposition since they were just founded just a few years back (in 2008) and likely doing less than $10m in revenue, we had the opportunity to catch up with the co-Founder/co-CEO just a few weeks ago."

"While Rypple is not meaningful to the model near-term, it more importantly accelerates CRM's social enterprise positioning which ultimately is the key to selling larger, more strategic, all-you-can-eat Enterprise License type deals. Despite being a startup, Rypple has already become a social enterprise thought leader (knows how to sell and build social products) with hundreds of paying customers and tens of thousands of non-paying customers."

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 $107.06 yesterday.

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