Cowen Remains Bullish on salesforce.com (CRM) Following 2Q
Cowen reiterated an Outperform rating and $100.00 price target on salesforce.com (NYSE: CRM) following the company's 2Q earnings report.
Analyst Derrick Wood commented, "CRM called out end-of-qtr softness in the U.S. that seemingly weighed on hitting internal bookings targets. But mgmt expressed a high degree of confidence in 2H pipelines and we think the structural growth fundamentals are well intact. CRM has historically delivered a strong rebound after a miss; and coupled w/ upcoming catalysts around Dreamforce (early Oct), we recommend buying on the weakness."
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Shares of salesforce.com closed at $79.42 yesterday.