Wunderlich Securities Reiterates Buy, $168 Target on Salesforce.com

Wunderlich Securities maintains its Buy rating and $168 target price on Salesforce.com

on strong results announced for its fiscal Q4. Wunderlich Securities notes, "Salesforce.com (

) announced strong results for its fiscal 4Q12 quarter after the close yesterday. With revenues up 38% year over year, and pro forma EPS moving to a strong breakout new high (and with revenues and EPS both exceeding expectations), metrics were strong across the board. The company's ability to win over 100 "seven figure deals" and the disclosure of its first ever "nine figure deal" closed early in its fiscal 1Q13 quarter leave little doubt that business momentum is strong." CRM closed at $128.07 a share on Thursday.