salesforce.com (CRM) Partnership with Amazon.com (AMZN) Confirmed - Piper Jaffray
PiperJaffray analyst, Alex Zukin, believes the most important metrics in Salesforce.com's (NYSE: CRM) quarter were: billings of $1.632 billion (+31% Y/Y), the announcement of a large strategic deal with Amazon, another 9-figure deal, Sales Cloud accelerating in 1Q to 15% and accelerating backlog growth of 28%. The firm maintained an Overweight rating and lifted its price target to $100.00 (from $95.00).
Speculation of a CRM/AMZN partnership was confirmed after the following quote:
"I think you'll continue to see more announcements between Salesforce and Amazon and you will see our partnership and strategic alliance with them continue to grow and develop. And Jeff and I have a lot of very exciting ideas on what the next steps are."
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Shares of salesforce.com closed at $77.87 yesterday.