Nomura Securities Maintains a 'Buy' on salesforce.com (CRM); San Francisco Hotel Rooms Are Booked
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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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Nomura Securities maintains a 'Buy' on salesforce.com (NYSE: CRM) price target of $160.00.
Analyst, Rick Sherlund, said, "Salesforce.com had an in-line quarter and the full year outlook is essentially unchanged from our expectations with the exception of somewhat higher expenses. We are buyers of the stock and recommend accumulating shares on the weakness around the print in anticipation of a demonstration of the growing market position that will be evident at Dreamforce event which starts September 18. Our F12E/F13E EPS goes from $1.50 / $2.16 to $1.51 / $2.00. The shares are richly valued at 31x EV to unlevered free cash flow on calendar 2013 and 5.1x revenues, an expensive valuation, but we think the underlying set-up is promising for continued robust growth."
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 $146.77 yesterday.
Analyst, Rick Sherlund, said, "Salesforce.com had an in-line quarter and the full year outlook is essentially unchanged from our expectations with the exception of somewhat higher expenses. We are buyers of the stock and recommend accumulating shares on the weakness around the print in anticipation of a demonstration of the growing market position that will be evident at Dreamforce event which starts September 18. Our F12E/F13E EPS goes from $1.50 / $2.16 to $1.51 / $2.00. The shares are richly valued at 31x EV to unlevered free cash flow on calendar 2013 and 5.1x revenues, an expensive valuation, but we think the underlying set-up is promising for continued robust growth."
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 $146.77 yesterday.
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