salesforce.com (CRM): Raymond James Ups PT to Triple Digits

Raymond James analyst, Terry Tillman reiterated the Strong Buy rating on alesforce.com (NYSE: CRM) and increased the PT to $100 (from $90) following another impressive quarter, with continued momentum on a number of key growth vectors. These include impressive progress on enterprise deals (record 1Q; new 9 figure deal this quarter), continued diversification across clouds (Non-Sales clouds all grew close to 30%+), and traction internationally. The continued convergence of selling multiple cloud applications and platform traction should also continue to support large deal activity, and makes management’s revised outlook (+23% y/y at the mid-point) appear to have room for upside.

The analyst believes that considering this growth is coming with healthy margin expansion (+280 bps y/y in 1Q) and record cash flow generation, CRM remains one of the most attractive large cap tech stocks to own.

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 $77.87 yesterday.

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