Morgan Stanley: 'Feeling Confident' About Salesforce.com's Quarter

Loading...
Loading...

With salesforce.com, inc.’s CRM quarter just ending, Morgan Stanley analysts are feeling confident in the company’s performance – reiterating its Overweight rating. The analysts expect that Salesforce saw strong transaction growth, but do caution that FX headwinds might take the Q4 and FY16 estimates downward.

 

Perhaps most importantly, Morgan Stanley believes that Salesforce will be able to achieve 25%+ normalized billings growth and 30%+ growth in free cash flow. The analysts say that this growth is not reflected in the current price, which is between $55 and $56 per share.

 

Morgan Stanley earlier this year dubbed Salesforce a “Best Idea,” noting that it is positioned well in key secular trends, including mobile, the Internet of Things and cloud computing. 

date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: ReiterationAnalyst Ratings
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...