Macquarie Reiterates an 'Outperform' on salesforce.com (CRM); Q1 Handily Beat on All Metrics
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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: 10 | New: 16
Rating Summary:
48 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 16
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Macquarie reiterates an 'Outperform' on salesforce.com (NYSE: CRM) price target of $170.00.
Analyst, Brad Zelnick, said, "salesforce.com posted solid F1Q13 results with the most important metric, calculated billings of $650 (+36% duration adjusted and +34% y/y reported) exceeding our/Street +31% y/y expectation. Results handily beat on all metrics and support our view of CRM as a long-term secular winner in the enterprise paradigm shift to cloud, social and mobile technologies."
"Our FY13 revenue and non-GAAP EPS increases to $2,994m and $1.62 from $2,944m and $1.60, respectively.
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 $133.80 yesterday.
Analyst, Brad Zelnick, said, "salesforce.com posted solid F1Q13 results with the most important metric, calculated billings of $650 (+36% duration adjusted and +34% y/y reported) exceeding our/Street +31% y/y expectation. Results handily beat on all metrics and support our view of CRM as a long-term secular winner in the enterprise paradigm shift to cloud, social and mobile technologies."
"Our FY13 revenue and non-GAAP EPS increases to $2,994m and $1.62 from $2,944m and $1.60, respectively.
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 $133.80 yesterday.
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