Oppenheimer Remains Bullish on salesforce.com (CRM) Following Marketing Customer Survey

Oppenheimer reiterates an Outperform rating and $80.00 price target on salesforce.com (NYSE: CRM) following a survey of 26 Marketing Cloud customers. Analyst Brian Schwartz says that the survey demonstrated an ongoing strong customer response to Salesforce.com's Market Cloud.

Schwartz commented, "We reiterate our Outperform rating on CRM shares as our survey of 26 Marketing Cloud customers suggests the current spending environment for marketing software remains strong, with 58% planning to spend more on marketing software over the next six months and only 8% planning to spend less. We also detected high interest levels (good runway for add-on product sales) in using Salesforce.com's platform technology for enabling the modernization and re-envisioning of the entire marketing function, which bodes well for average deal sizes and customer lifetime value trends. Bottom Line: The survey results are fairly consistent with our 2014 customer surveys, and in our view, demonstrate an ongoing strong customer response to Salesforce.com's Market Cloud and other recent product investments."

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 $71.36 yesterday.

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