Deutsche Bank Reiterates a 'Buy' on salesforce.com (CRM); Reorganization to Offer Long-Term Opportunity
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Price: $196.21 --0%
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
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Deutsche Bank reiterates a 'Buy' on salesforce.com (NYSE: CRM) price target of $215.00.
Analyst, Tom Ernst, Jr., said, "Our checks heading into the quarter indicate that Salesforce underwent a large restructuring within its sales organization, which could be disruptive to near-term results, but should be a positive as we go through this year and to the overall growth profile. We are slightly reducing our 1H13 estimates for billings growth to 28% in each of 1Q and 2Q (from 30% and 29% respectively), but are leaving all other estimates unchanged, including FY13 revenue, EPS, and FCF. Despite the execution risk in 1H13, we continue to see much stronger opportunity for upside than downside in 2H13."
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 $137.78 yesterday.
Analyst, Tom Ernst, Jr., said, "Our checks heading into the quarter indicate that Salesforce underwent a large restructuring within its sales organization, which could be disruptive to near-term results, but should be a positive as we go through this year and to the overall growth profile. We are slightly reducing our 1H13 estimates for billings growth to 28% in each of 1Q and 2Q (from 30% and 29% respectively), but are leaving all other estimates unchanged, including FY13 revenue, EPS, and FCF. Despite the execution risk in 1H13, we continue to see much stronger opportunity for upside than downside in 2H13."
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 $137.78 yesterday.
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