Buy The Dip In Salesforce Shares Ahead Of Q4 Earnings

Nomura’s Frederick Grieb has maintained a Buy rating on salesforce.com, inc. CRM, with a price target of $90.

The company is scheduled to report its F4Q16 earnings on February 24, after market close. Although the stock has declined 23 percent since the F3Q16 earnings were reported, as compared to the 11 percent decline in the S&P 500, Grieb believes that salesforce.com continues to be among the leaders in the CRM space.

“While Salesforce’s flagship sales force automation product has become more mature, the ability to cross-sell its expanding product suite offers avenues for continued growth at scale,” according to the Nomura report.

Grieb expects the company to continue to expand its product set, while seeing success in the further penetration of its existing installed based via additional solutions.