J.P. Morgan: Salesforce.com Inc. Could Fetch $100/Share In Bidding War

Salesforce.com Inc.

could fetch $100 a share if a bidding war broke out, an analyst said Wednesday. J.P. Morgan's Mark R. Murphy said he had "no conclusive evidence" regarding speculation about an offer for the customer service technology company. But Murphy said $100 a share for Salesforce would be "consistent with current multiples" for fast-growing subscription software companies. Salesforce traded recently at $76.44, up sharply on news from Bloomberg that it hired investment bankers after being approached by a potential acquirer. Murphy noted that Salesforce Chief Executive Marc R. Benioff "was sitting in the front row" at a developers conference Wednesday hosted by Microsoft Corp.

. Murphy also noted that Oracle Corp.

recently raised $10 billion in a debt offering. News earlier this month that Salesforce's former Chief Financial Officer Graham Smith will unexpectedly remain as an adviser instead of retiring as expected "is of interest to us," Murphy said, although he said its relevance is unclear. A deal, Murphy said, would be "the largest in software history."