Needham & Company Maintains a 'Buy' on salesforce.com (CRM); Emerging Social Enterprise Wave a Tailwind

Needham & Company maintains a 'Buy' on salesforce.com (NYSE: CRM) price target raised from $125 to $139.

Analyst, Michael Huang, said, "We had the chance to survey the CEOs of 25 leading, privately held Social Enterprise software companies, and had the opportunity to meet up with recent IPO Jive and a couple top Salesforce.com consulting partners. Our view is that a compelling investment theme in 2012 is the rising importance of social enterprise software, spanning internal and external processes, and running the gamut of functional areas including customer service/support, sales, marketing, ecommerce, HR, R&D, and others. We believe Salesforce.com stands to benefit disproportionately from accelerating social enterprise trends, and Salesforce’s social enterprise proposition appears to have come together nicely through a number of acquisitions and product introductions."

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 $127.61 yesterday.

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