Canaccord Genuity Maintains a 'Buy' on salesforce.com (CRM); Quarter Momentum to Carry Through to Dreamforce

Canaccord Genuity maintains a 'Buy' on salesforce.com (NYSE: CRM) price target of $180.00.

Analyst, Richard Davis, said, "Salesforce posted another solid quarter, with revenues, FCF and billings topping consensus estimates. We believe CRM shares set up well at least into Dreamforce as the likelihood of news and commentary on those developments is strongly biased to the positive side of the equation. CRM’s moderate margins allow investors to dream big when the news flow is positive and fret when news or the macro is scary. Inasmuch as we believe we are in one of those sin curve upswings, we believe it is possible for CRM to reach or broach $165 before temporarily running out of steam as investors shift back to a “glass is half empty mood.” CRM should be a core growth holding."

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• JPMorgan Assumes salesforce.com (CRM) at Overweight, 'Overblown Concerns'
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker