UBS Reiterates a 'Buy' on salesforce.com (CRM); More Cumulous Clouds in the Forecast
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Price: $196.21 -2.56%
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS reiterates a 'Buy' on salesforce.com (NYSE: CRM) price target raised from $169 to $180.
UBS analyst said, "CRM's results clearly show the cloud is gaining mainstream acceptance. CRM quickly snapped back from disappointing Q3 billings, delivering 57% y/y billings growth in Q4 to $1.09Bn vs. our est. of 31% to $917M. Even more impressive was off-balance sheet backlog of $2.2Bn rising 47% y/y and exceeding the high end of our $2.0-2.1Bn estimate. Also, margins appear to be bottoming in the low teens with multi-year expansion ahead."
UBS slightly lowers FY13 EPS estimate from $1.66 to $1.60 and FY14 from $2.23 to $2.14.
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 $131.77 yesterday.
UBS analyst said, "CRM's results clearly show the cloud is gaining mainstream acceptance. CRM quickly snapped back from disappointing Q3 billings, delivering 57% y/y billings growth in Q4 to $1.09Bn vs. our est. of 31% to $917M. Even more impressive was off-balance sheet backlog of $2.2Bn rising 47% y/y and exceeding the high end of our $2.0-2.1Bn estimate. Also, margins appear to be bottoming in the low teens with multi-year expansion ahead."
UBS slightly lowers FY13 EPS estimate from $1.66 to $1.60 and FY14 from $2.23 to $2.14.
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 $131.77 yesterday.
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