Salesforce.com (CRM) Jumps on Reports of +$140 Million Mega-Deal

Shares of salesfore.com (NYSE: CRM) are moving higher early on Monday morning on reports that the company landed the largest transaction in its history. The news comes from a research note from analyst Mark Murphy of Piper Jaffray.

According to the note, the transaction is unexpected, especially considering the timing since deals of this nature usually close in Q4. In terms of size, the deal is larger than the $140m deal it has with State Farm.

Murphy thinks more mega-deals could be on the on the horizon, and he has an Overweight rating on salesfore.com (NYSE: CRM) with a $207 price target.

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 $139.84 yesterday.

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